• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Australia's First Spot Bitcoin ETF Launches on Cboe Australia Exchange - Impact and Implications

user avatar

by Giorgi Kostiuk

2 years ago


A groundbreaking moment unfolds in Australia's financial domain as Monochrome Asset Management unveils the Monochrome Bitcoin (BTC) exchange-traded fund (ETF) (IBTC) for trading on the Cboe Australia exchange from Tuesday onwards. This pivotal launch ushers in Australia's premier ETF directly holding Bitcoin, presenting investors with a regulated and straightforward route to participate in the cryptocurrency sector. The Australian Securities and Investments Commission (ASIC) has granted approval for the product, ensuring its compliance with investor protection rules within the Australian Financial Services Licensing (AFSL) framework, which sets stringent standards for directly held crypto assets, distinct from ETFs holding Bitcoin through indirect or offshore means. Following the US's authorization of spot Bitcoin ETFs in January 2024, jurisdictions like Hong Kong and Australia have followed suit. Hong Kong's recent approval of a series of crypto-related spot ETFs underscores the global inclination towards integrating these financial instruments. Jeff Yew, CEO of Monochrome Asset Management, emphasizes the significance of this launch by emphasizing Monochrome's commitment to safeguarding investors and providing secure, compliant, and accessible pathways to engage in the dynamic cryptocurrency sphere. The direct holding structure of IBTC is positioned to offer Australian investors enhanced protection and transparency, aligning with Monochrome's unwavering focus on security and regulatory compliance.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bitcoin Price Set for Potential Increase

chest

Bitcoin's price is projected to rise, with long-term holders anchoring the market at higher levels.

user avatarRajesh Kumar

Mississippi College School of Law Introduces Mandatory AI Course for First-Year Students

chest

Mississippi College School of Law mandates a course on artificial intelligence for first-year students, reflecting the growing importance of AI in the legal field.

user avatarMiguel Rodriguez

Legal System Faces Challenges with AI Integration Amid Court Rulings

chest

The integration of artificial intelligence in the legal system is facing significant challenges due to recent court rulings, including concerns about the reliability of AI-generated information and the lack of attorney-client privilege for conversations with AI chatbots.

user avatarLuis Flores

Michael Arrington Highlights XRP's Role in Crypto Infrastructure Development

chest

Michael Arrington discusses the limitless potential of the XRP ecosystem and Ripple's role in developing essential infrastructure for the crypto industry.

user avatarArif Mukhtar

New York Takes Legal Action Against Coinbase and Gemini for Gambling Law Violations

chest

New York has filed lawsuits against Coinbase and Gemini for allegedly violating state gambling laws by offering prediction markets.

user avatarMaria Gutierrez

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

chest

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.