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

by Giorgi Kostiuk
2 years ago

Other news
BMNR Stock Price Retreats Amid Ongoing Crypto Market Crash

BMNR stock price fell significantly as the crypto market continues to decline, with bearish trends in Ethereum indicating further potential declines.

Community Engagement Drives Success in Alien Worlds

Historical trends show that community involvement leads to sustained growth in the Alien Worlds metaverse.

Alien Worlds Expands Ecosystem with GHubs Grants

Alien Worlds is enhancing its community-driven metaverse through new projects funded by GHubs grants.

Benchmark Warns of Risks to US Crypto Valuations

Benchmark warns that failure to pass a comprehensive crypto market structure bill could limit US crypto valuations.

WhiteBIT Contributes $11 Million to Ukrainian Military Efforts

WhiteBIT has contributed $11 million to support Ukrainian military efforts, including funding for drones.

Russia Bans WhiteBIT Exchange Over Military Support to Ukraine

Russian authorities have banned the cryptocurrency exchange WhiteBIT, labeling it as an Undesirable Organization due to its financial support for Ukrainian military forces.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter