Monochrome's CEO predicts that Australian spot Bitcoin ETFs could see $3-4 billion inflows in the first three years.

Australia currently has only two funds that focus on spot crypto while the US has 11 spot bitcoin funds with $53.16 billion in net assets.

Hong Kong is also awaiting its first spot in Bitcoin and ether ETFs, with six funds set to be officially listed on April 30 after receiving approval on April 15. According to Bloomberg’s senior ETF analyst Eric Balchunas, Hong Kong’s approval is a positive development for crypto, despite its smaller estimated size compared to the US.

VanEck Australia and BetaShares are expected to receive approval for their spot Bitcoin ETF applications before the end of the year. The US has already approved Bitcoin ETFs with $53 billion in assets under management across eleven products.

Jeff Yew described Australia as a "crypto-heavy country" and expects Australian spot Bitcoin ETFs to attract between $3-4 billion in net inflows within the first three years. He emphasized that fund managers and SMSF investors would be primarily driving the demand for Bitcoin ETFs, providing a safer exposure to digital assets compared to direct exposure on crypto exchanges.

Yew's company, Monochrome, initially applied for a spot Bitcoin ETF with the ASX but later switched to CBOE Australia due to a slow approval process at the ASX.

These predictions suggest that Australian Bitcoin ETFs could be successful and attract significant investments within the first few years. The demand is expected to come from various types of investors seeking regulated exposure to digital assets through such financial products.