Australian company DigitalX has announced the successful raising of 20.7 million Australian dollars (equivalent to $13.5 million) to further develop its Bitcoin portfolio. The new investments will allow the firm to strengthen its position in the digital asset market and expand its presence in the cryptocurrency exchange-traded fund segment.
This is reported by Finway
Investors and Funding Round Details
The funding was backed by leading venture firms, including Animoca Brands, UTXO Management, and ParaFi Capital. Additionally, Simon Gerovich, CEO of Metaplanet — Asia’s largest public company with significant Bitcoin holdings — joined the round.
The round was organized as a placement of ordinary shares at a price of 0.074 Australian dollars per share, which represents a notable discount to the current market value of DigitalX’s securities. Furthermore, each investor received one warrant for every two shares at an exercise price of 0.15 Australian dollars.
Share Growth and Strategic Changes
DigitalX shares, traded on the Australian Securities Exchange under the ticker DCC, saw an increase of more than 34% in response to the investment news. This indicates heightened investor interest in the company and its strategic focus on digital assets.
DigitalX remains the only company in Australia managing cryptocurrency exchange-traded funds. Currently, the firm offers one such product — the DigitalX Bitcoin ETF (BTXX).
A significant portion of the funds raised, approximately $12.5 million, will be directed towards expanding the company’s Bitcoin portfolio. The remainder is earmarked for infrastructure development and covering operational expenses.
As part of the fundraising, DigitalX’s global advisory board welcomed Animoca Brands founder Yat Siu and Global Crypto Ventures co-founder Herve Larren, highlighting the strategic importance of this investment round for the company’s future development.
“For DCC, this made particular sense, as in Australia you can invest through your superannuation funds (think of it as the equivalent of a 401k) in ASX companies, and it’s a great way to gain access to the most well-known class of digital assets — Bitcoin.”
It is worth noting that recently, the CEO of the Japanese public company Remixpoint decided to receive his salary in Bitcoin, indicating the growing popularity of digital currencies among leaders of major business structures.
