Australia is seeking its first bitcoin ETF

The cryptocurrency marketplace has not only been an attractive space for U.S. market participants but rather global investors. In Australia, there have been a handful of crypto-based products that have been filed as Australian investors have been pouring money into bitcoin (BTC-USD) and other crypto assets.Just like the United States, Australia does not have a crypto exchange-traded fund, and fund issuers are all jockeying for a position to launch the first Aussie-based ETF. VanEck and BetaShares are two issuers who have just submitted paperwork to the Australian Securities Exchange to be the first listing organizations.To help fuel the push for an Australian bitcoin-backed ETF, it's been reported that family offices in Australia have started to expand their portfolios and build up sizable positions in bitcoin.Bitcoin has made a recent push to the topside after its recent selloff to the $47,000 level. Bitcoin is now popping above the $58,000 benchmark level,