• 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

Ripple's XRP Ledger Emerges as Key Player in UAE Amid Oil Market Disruptions

chest

Ripple's XRP Ledger is gaining traction in the UAE, having secured licensing approval from the Dubai Financial Services Authority, allowing it to offer cross-border crypto payment services amid global oil market disruptions.

user avatarGustavo Mendoza

Egragcrypto Predicts High-Volatility Phase for XRP

chest

Crypto analyst Egragcrypto has shared insights on the potential future trajectory of XRP prices, indicating a high-volatility phase ahead.

user avatarRajesh Kumar

Hedge Funds Increase Short Positions on Ethereum and Bitcoin

chest

Hedge funds are significantly increasing their short positions on Ethereum and Bitcoin, indicating a bearish outlook on the market.

user avatarMiguel Rodriguez

Drone Strike on Saudi Aramco Refinery Signals Escalating Tensions

chest

A drone strike has hit the Saudi Aramco refinery in Ras Tanura, indicating a significant escalation in the ongoing Israel-Iran-US conflict.

user avatarLuis Flores

Crypto Funds See $1 Billion Inflows, Signaling Renewed Interest

chest

Last week, Bitcoin and other crypto exchange-traded products attracted $1 billion in investments, reversing a trend of losses.

user avatarMaria Gutierrez

Investors Await Unemployment Data Amid Crypto Market Activity

chest

Investors are looking forward to the upcoming unemployment data from the Bureau of Labor Statistics, which is set to be published on March 6. Economists at Deutsche Bank anticipate an unemployment rate of 4.3%, but there are elevated risks around this estimate. The data may significantly impact market sentiment and investor confidence in the current economic climate.

user avatarArif Mukhtar

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.