Monochrome Asset Management, an investment firm, is set to commence trading its Bitcoin exchange-traded fund (IBTC) on Tuesday, June 4. The Australian Securities and Investments (AFS) has granted approval for this initiative. IBTC stands out as a pioneering offering in the category of crypto assets traded on the CBOE's Australian branch, solely based on Bitcoin. With the upcoming introduction of spot Ethereum ETFs and the consistent spike in demand for US spot BTC-ETF units in recent months, Monochrome Asset Management's CEO, Jeff Yew, foresees significant interest in their product. The developers behind the Monochrome Bitcoin ETF have ensured full compliance with the AFS regulations for 2021. Notably, this instrument allows redemption in kind, setting it apart from similar products in the US and Hong Kong. Reports from Bloomberg, citing informed sources, indicate that the ASX, an Australian stock exchange, is preparing to launch spot Bitcoin ETFs by 2024.