Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin exchange-traded funds by the end of 2024, according to Bloomberg.

Its report, citing sources familiar with the matter, noted that several issuers, including VanEck and local firms BetaShares and DigitalX, have already submitted their ETF applications earlier this year.

ASX is the top equity exchange in Australia, managing about 80% of the local trades. As of March, ASX had a domestic market capitalization of $2.7 trillion.

“ASX continues to engage with a number of issuers that are interested in admitting crypto asset-based ETFs,” an ASX spokesperson told The Block. The company declined to comment further on the matter.

Investors in Australia have been trading spot bitcoin ETFs since 2022, currently listed on CBOE Australia. The Global X 21Shares Bitcoin and Ethereum ETFs are the only two spot crypto funds in Australia, according to its website.

Meanwhile, spot crypto ETFs were first introduced in the U.S. in January. The 11 spot bitcoin funds in the U.S. have since amassed $53.16 billion in total net assets, exceeding pre-launch expectations.

Hong Kong also awaits its first line of spot bitcoin and ether ETFs. Six funds will be officially listed on April 30, after receiving the initial approval on April 15. Hong Kong’s approval is a significant positive development for crypto, despite its estimated size being much smaller compared to the U.S., Bloomberg's senior ETF analyst Eric Balchunas said earlier this month.