Reddit Posts
There already exists at least one Bitcoin ETF, traded on the Australian stock exchange (ASX:EBTC). What is the opinion of this sub on this financial product?
Seeking Advice to use Bitcoin as Collateral for Home Purchase in Australia
Does anyone have any advice for a new crypto investor?
Monochrome Becomes First Firm To File For Spot Bitcoin ETF With ASX Under New Regime
Growing crypto popularity among Australian Youth
Blame game rages over ASX’s failed CHESS system blockchain upgrade
ALMOST fell victim to a "Fatten the Pig" Scam. Thanks to you guys, I made money on it!
31% of young Aussies hold crypto despite being ‘risk averse’ — ASX survey
How does it work? 30s, 60s, 120s "Smart Contracts" on ASX... Please explain
How has the market changed in 4 years? I analyse the top 30 in Nov 2017 and now. Global market cap has increased from $231B to $2.6T. But 22 out of 30 are now out of the top 30, 13 coins have decreased in market cap. The market’s focus and directions have also changed significantly as well.
Cryptocurrency company BetaShares ETF breaks Australian record on opening day
Big crypto news in Australia that nobody is talking about. Mainstream adoption is getting closer!
Bitcoin and Crypto strategy ETF listed in Australia, smashing local records for an ETF - smashes ASX record in fifteen minutes
ASX ETF record smashed as crypto goes mainstream -from AFR.com
ASX's first cryptocurrency ETF is listing Thursday
When you tell your parents or family about crypto and all you hear is bad things.. who else has dealt with this?
Teaching my kids about Finance, investing, and Crypto
SWIFT - Global banking integrating smart contracts - Token market could be larger than the Securities market
‘Exciting and terrifying’: Crypto just like nineties tech boom, says Seek co-founder
Exciting and terrifying’: Crypto just like nineties tech boom, says Seek co-founder
Lucrative crypto projects with best risk:reward ratios
I love crypto. I’m long. As long as it takes. The on-boarding from traditional markets to crypto is still a major hinderance..
The ASX could launch Australia's first crypto ETF by the end of the year — but don't expect Dogecoin to make the cut
Most lucrative projects with relatively low risk
The ASX could launch Australia's first crypto ETF by the end of the year — but don't expect Dogecoin to make the cut
Australian stock exchange (ASX) set to launch a Bitcoin ETF this year.
Here for a good time AND a long time (hopefully)
Newbie here, just want to say thanks.
Travel Giant Webjet (WEB:ASX) Enters Crypto through an Unprecedented $4.1M Deal with LockTrip.com
Travel Giant Webjet (WEB:ASX) Enters Crypto through an Unprecedented $4.1M Deal with LockTrip.com
Mentions
Yeah so they will have all these orders in now to sell first thing tomorrow morning. Also there are other stock exchanges I have an etf on the ASX now maybe that's not hugely influential but there are etfs via stock exchanges in Japan and all sorts of places
I have heard that the daily trading volume of AAPL is twice that of the entire ASX. There is so much more money flying around in the US markets.
>ASX.ebtc I can't find this on ASX website.
ASX.ebtc is live as a bitcoin etf on asx?
Bitcoin ETF has existed on the ASX for over a year now.
Thanks for the comprehensive comment. I am of a different opinion regarding Supply chain, I actually think it doesn't make much sense as the technological challenge and the efficiencies gained are just marginal. Just recently, Tradelens, the biggest project on Supply Chain has closed shop and was supported by IBM, MERSK and all the big players in supply chain. [https://cointelegraph.com/news/the-ibm-maersk-blockchain-effort-was-doomed-to-fail-from-the-start](https://cointelegraph.com/news/the-ibm-maersk-blockchain-effort-was-doomed-to-fail-from-the-start) Regarding your nuanced opinion on ASX, I completely agree with you, that the problem is more on the execution and implementation side rather than specific to tokenization infrastructure. I think that tokenization is fantastic, otherwise, my company would not exist. The issue with ASX is the incompetence and use of private blockchains.
Fully agree with the liquidity argument. All things equal, tokenization makes illiquid assets more liquid. **Where and how does tokenization make sense?** Supply chain financing is another good example: There's a lot of overhead today managing accounts receivables collateralization. Tracking ownership to invoices and settlement of those transactions is a pain. Asset tokenization could make that much easier to manage. Tokenization makes it trivial to understand who holds title based on who holds the tokens (rather than digging through collateralization agreements). And not only does it make it easier, but deeper liquidity could theoretically help reduce the spreads between invoice face value and re-sale value through market driven price discovery. Tokenization also makes it possible for supply chain and logistics to be more natively executed with smart contracts. Currently, it is complex for large corporations to manage invoicing T&Cs, especially if they need to be compliant with terms in an MSA. It is not uncommon for these MSAs to be a pdf stored in some siloed system that few people even know exist. Tokenization of goods could make it possible to allow smart contracts to govern and execute supply chain business events while ensuring that such transactions are only executed under the T&Cs codified in the smart contract. ​ >Huge institutions have spent millions trying to bring this new technology to global adoption and failed. The Australian stock exchange has closed operation since end of 2022 after writing off $170M. I have a more nuanced opinion on this. The deficiencies noted in the report are (1) absence of appropriate design artefacts, rigour, or inconsistent design discipline (2) latency, exacerbated by complex architecture (3) entity centralization / SPoF (4) poor Ledger API service quality (5) poor disaster recovery / tech debt inhibiting DR (6) tech debt inhibiting future performance scaling (7) limited knowledge base in workforce I would argue 1, 2, 5, 6, 7 are all organization challenges specific to ASX. 3 is a lack of willingness to adopt an operational model conducive to the advantages of DLT and / or poor strategic thinking around use case application. 4 is choosing the wrong vendor for the job. None of these observations are specific to tokenization infrastructure. I've seen several enterprise resource planning implementations go sideways for some or all of the above.
Do all your trading in 1 place now, happy days. Wish Krakens app also done ASX for us in Australia
They are 3 years behind ASX. Australians spent more than a hundred million before abandoning the project.
They spent tens of millions to implement ASX on a blockchain. Project got discontinued.
Also trying to implement blockchain for the ASX, introduction of NBN, the list goes on.
If you are looking at gold/silver but don't want to buy/store physically, maybe have look instead at gold and silver ETFs on ASX. GOLD, PMGOLD, ETPMAG (silver).
I’m about 75% Stocks, mostly Australian ASX200 companies, then a bunch of bonds, and finally about 5% is in Crypto.
Anyone invested into crypto related ETFs? I’m looking at CRYP on ASX, tracks several crypto companies like Coinbase, Galaxy Digital, Microstrategy, etc. Regardless of what happens with certain coins, the industry is here to stay so probably a safer bet than buying many of the alts.
"the path we were on will not meet ASX's and the market's high standards." A 165 Million writeoff
That was my goal too but haven’t been on here much. Been playing with penny stocks on the ASX like a degenerate
tldr; An application has been filed for Australia's first fully-licensed spot bitcoin ETF under new regulatory guidelines. The application was filed by bitcoin-focused asset management firm Monochrome in partnership with Vasco Trustees. The Monochrome Bitcoin ETF (IBTC) aims to provide regulated exposure for retail investors. This marks the first filing for a spot bitcoin ETF on the Australian Securities Exchange (ASX) under the licensing regime with crypto provisions. The Australian Securities and Investments Commission (ASIC) revised its rules for the Australian financial services (AFS) license in October 2021 to enhance investor protections and promote market transparency. The rules require institutional support and acceptance of the underlying crypto for a spot ETF to be approved. Currently, there are only two AFS licensees with retail crypto-asset license authorization. Another bitcoin ETF attempted to be the first in Australia last year but was delisted due to lack of interest. The Monochrome Bitcoin ETF is authorized under the 'crypto-asset' licensing category, allowing it to hold bitcoin directly on the fund level. The CEO of Monochrome expressed confidence in a positive outcome for the application. Renewed interest in spot bitcoin ETFs has also been seen in the US, with major institutions filing for them. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Australian crypto investment firm only filed the revised application for a spot bitcoin ETF on the ASX. [link](https://www.coininsider.com/australia-firm-reapplies-for-bitcoin-spot-etf/)
It is a fucking disgrace. They obviously botched the whole job because blockchain would provide transparency. The ASX doesn't want that. The big boys run Australia. As an Aussie, bloody upsetting.
tldr; The Australian Securities Exchange (ASX) and Digital Asset, the New York firm responsible for the ASX's abandoned blockchain-based clearing system, are blaming each other for the project's failure. Digital Asset co-founder Eric Saraniecki told a parliamentary joint committee on corporations and finance that ASX was unwilling to hand over important test data and was telling Digital Asset to preserve antiquated elements of the old system. However, ASX's Non-Executive Director David Curran said the issue was a lack of communication from Digital Asset regarding their concerns. ASX's Managing Director and CEO Helen Lofthouse said the original solution design "was not going to be able to do what we needed it to do". *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Approximately 15% of Australians have invested in cryptocurrencies, with young Aussies being more inclined towards the industry, according to the latest ASX Australian Investor Study. The study found that 31% of the so-called “next generation investors” have bought Bitcoin or altcoins, while high-value investors (HVIs) also find the sector attractive, with 33% owning digital currencies and their median investment being nearly $88,000. Crypto ranks sixth in popularity among investment choices for Aussies, with shares and real estate being the most common choice. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A new study conducted by Investment Trends on behalf of the Australian Securities Exchange (ASX) has revealed that 31% of young Australians have traded digital currencies or hold active crypto portfolios, despite their strong dislike for risk-taking. The study also showed that 46% of “next-generation investors” (investors between 18 and 20 years old) said they preferred stable returns. The median cryptocurrency holding for “next-generation investors” is $2,700, representing 6% of their total portfolio, double the 3% crypto holding for all other investor age groups. Meanwhile, the “wealth accumulators” (investors aged 25-49) owned the most digital assets, accounting for 69% of the total investment in digital assets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A new study by the Australian Securities Exchange (ASX) has found that 31% of young Australian investors aged 18 to 24 hold or have traded cryptocurrencies over the last year, despite describing themselves as more "risk averse" than their older counterparts. The median holding of cryptocurrency for "next generation" investors stands at $2,700, representing a 6% weight in their total portfolio, double that of the 3% crypto allocation for all other investor age groups. The study also revealed that 29% of all "intending investors" are considering some type of crypto investment within the next 12 months. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
😄😂 Myself and R/ASX_Bets agree it's better place because of you! .
By your header also at ASX bets I guess mate?
tldr; The Reserve Bank of Australia (RBA) is holding a CBDC pilot demo day in collaboration with the Digital Finance Cooperative Research Centre (DFRC) to showcase the potential use cases and economic benefits of a central bank digital currency (CBDC) in Australia. The event is an all-day, invite-only conference in Sydney, and participants include representatives from big banks ANZ, NAB and CBA, as well as the ASX, Mastercard, Novatti, Unizon/Zerocap, Auspay Net, Google Cloud, Canvas and more. Fintech Canvas is conducting one of the most prominent demonstrations, showcasing how foreign exchange (forex) trading of an AUD CBDC for USDC can work on its Financial Market Applications and on its ZK Layer 2 privacy network – Canvas Connect. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Australia's first central bank digital currency (CBDC) transfer was successfully completed on May 17th, with ASX-listed DigitalX and fund manager TAF Capital involved in the trade of eAUD to USDC stable coin. The trade was part of the RBA and Digital Finance Cooperative Research Centre CBDC pilot, with blockchain fintech Canvas central to the test FX transactions. Canvas Digital CEO David Lavecky said the exchange demonstrated how the RBA’s eAUD can be used to trade AUD for other international currencies quickly and more efficiently, potentially addressing crucial challenges in both FX and International Remittance Markets. The use case demonstrates the benefits of using CBDCs in tokenised FX transactions and how privacy-focused Layer 2 blockchain provides improvements over traditional markets by eliminating market inefficiencies, errors, and settlement risks. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The Australian stock market operator, ASX Ltd, has announced that it will not use blockchain or distributed ledger technology (DLT) in its software overhaul. The decision marks a significant repudiation of the technology, which was once seen as a key driver of cryptocurrency. ASX had previously paused its rebuild of its trading, settlement and clearing software based on blockchain technology after an external review found it needed to be largely reworked after seven years of development. The company has said it is considering options for another attempt at the rebuild of the 30-year-old software, but will not involve blockchain or DLT. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
[https://www.forbes.com/sites/michaeldelcastillo/2022/11/16/seminal-blockchain-project--goes-down-the-drain-chairman-apologizes/?sh=2c0112917d3c](https://www.forbes.com/sites/michaeldelcastillo/2022/11/16/seminal-blockchain-project--goes-down-the-drain-chairman-apologizes/?sh=2c0112917d3c) "ASX Chairman Apologizes After Writing Off $165 Million Blockchain Project"
7 years and $250m with crypto enthusiasts running the show and they just couldn’t make it work. This is a real blow for people who for some reason still believed in the tech for adaptation in transactional systems. 99% of those working in software dev day in day out agree blockchain is absolute garbage and they would never attempt to use it in their apps or push it as an option at work. But somehow this community is lead down the garden path by devs who continually milk the community dry until they too can finally give up and accept defeat. Let this be a lesson, 90% of the crypto market is run by frauds and scams. The other 10% are people earnestly trying to make it work (though they will have a stake in crypto so if it does work they stand to profit) and after more than a decade in the scene none of them have been able to pull it off. Even the ASX after investing $250m and 7 years, admit it’s a shit solution.
"comes after an external review found that the project would require significant rework, and ASX stated that it will explore more conventional technology options to achieve its business goals" can you name a more Australian example of being extremely fucking short sighted in future proofing upgrades and developments and hindering progress? Fucking dickheads in control akways
Do you understand how it works? For example, Blockchain technology is used for the Nasdaq exchange now. My country - Australia doesn't have it. Blockchain records everything and no one can hide anything. Our ASX exchange doesn't have it and it is manipulated as fuck. Decentralisation isn't a buzz word. This makes BTC more superior than anything else. There is no one central identity controlling it hence it's appeal. I am not using buzz words. I understand how it works. You obviously don't.
tldr; Goldman Sachs, Microsoft, Deloitte and Cboe Global Markets are joining a new blockchain system aimed at linking institutional applications. Participants in the Canton Network, which will start testing some features in July, say the system offers better privacy and controls than currently available. Other firms participating include Digital Asset, ASX, BNP Paribas and Cumberland. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Don't feel bad because Australians put everything into residential real estate. The market cap of residential property is several times larger than the market cap of the entire ASX. So the largest company in the ASX is a small fry
Very close to -50% lost on my ASX portfolio but i've been saving for a year. So my cash is almost as high as my portfolio. Crypto doing well, sold 1600 moons not long ago and made almost $500.
Apparently not everywhere though. The ASX was open.
With all due respect, America needs to get over itself in regards to it's percieved financial influence.. Crypto is a global market, and American media loves to act as if the US policy makers have the entire global economy under their thumb.. Lots of other markets are at ATH right now.. just sayin'. ASX, many Asian markets etc. to think of a few. S+P and FED interest rates are not the be-all of the entire fucking planet. Also , Robert Kiyosaki can lick my balls. 
During the gamestop run-up a bunch of degens bought the Australian gme on the ASX instead of the NYSE. The Aussie gme is a nickle cobalt exploration company in Western Australia and the degens sent the stock to the moon
Buddy get yourself some tech ETFs and then tell me they barely move hahahaa I've got some on the ASX that are stuff like solar or robotics sectors and they yoyo like penny stocks. My ARKK is up 16% this month while my ETH is up 13.5. The broader the basket the lower the volatility, but passively managed small sector ETFs or speculative managed funds are bonkers, and personally there's certain sectors I really want more exposure to than I'm going to get through SPY or whatever
Yeah, I knew about the Maersk one, and I think Overstock.com might have been floating this concept as well at one point. "Many announcements, no successes" is precisely what I meant by vaporware. I wasn't familiar with ASX and CHESS so thanks for that. That one sounds especially sketchy, like someone trying to create a perceived need for blockchain in traditional finance.
Good it’s been a red red day on the ASX