Monochrome is introducing Australia's initial physical Bitcoin ETF, which will directly hold Bitcoin, mirroring existing products in the U.S. In contrast to current ETPs in Australia that offer indirect exposure to spot crypto assets, Monochrome's ETF's primary goal is direct Bitcoin ownership.

Regulatory Approval

Australian Securities Regulator ASIC has granted approval to Monochrome for two exchange-traded products (ETP). Approval from Cboe Australia is anticipated by June. Initially planning to launch the ETF through ASX, Monochrome has chosen Cboe Australia in line with its strategic vision and market expansion, according to Jeff Yew, CEO of Asset Management at Monochrome.

Investor Transparency

The Monochrome spot Bitcoin ETF allows investors a clear and transparent means of exposure, similar to U.S.-based spot Bitcoin ETFs. The emergence of spot Bitcoin ETFs has captured the interest of governments globally, following the U.S. Securities and Exchange Commission's approval of 11 spot BTC ETFs on January 11. This authorization has sparked interest internationally, prompting other nations to contemplate introducing similar products in their markets.