DigitalX Limited (ASX:DCC) Increases Bitcoin ETF Holdings
Investment Highlights
DigitalX Limited (ASX:DCC) has announced significant growth in its DigitalX Bitcoin ETF (ASX: BTXX). The company’s wholesale bitcoin fund subscribed for 1,279,137 units in the ETF, valued at A$42.9 million. This subscription was completed through an off-market transaction, funded by the bitcoin portfolio of the fund.
At the time of this transaction, DigitalX held a 68.4% stake in the DigitalX Bitcoin Fund, translating to a valuation of A$29.3 million. This strategic move provides a robust seed investment for the company’s listed ETF. The DigitalX Bitcoin ETF offers investors a direct and regulated pathway to bitcoin, simplifying the investment process without the need for a digital wallet.
CEO Comments
Greg Dooley, Interim Chief Executive Officer of DigitalX, remarked on the importance of this transaction. “The subscription to our ETF underscores our commitment to providing investors with accessible and regulated exposure to bitcoin,” he stated. “We are excited to leverage this momentum in the expanding digital asset market.”
About DigitalX
DigitalX is a technology and investment company focused on enhancing the blockchain economy. It operates through digital asset funds management, fintech products, and blockchain ventures. The company also offers traditional asset management products tailored for qualified investors. Additionally, DigitalX is commercialising Drawbridge, a regtech solution aimed at improving compliance and corporate governance for listed entities.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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