Monochrome Asset Management, an Australian investment firm, has applied to list its flagship Monochrome Bitcoin ETF on Cboe Australia, one of Cboe Global Markets' exchanges. This decision is a divergence from the original plan to list the ETF on the Australian Securities Exchange due to certain factors aligning with Monochrome's goals in selecting Cboe Australia as the listing venue.

If approved, the Monochrome Bitcoin ETF will be the first spot Bitcoin ETF in Australia, offering direct investment in the leading cryptocurrency. Notably, Australia currently hosts two cryptocurrency exchange-traded products on Cboe Australia, but they do not hold actual Bitcoin.

Australian firms must secure approval from the national regulator, the Australian Securities Exchange (ASX), before applying to exchange for an ETF listing, a process Monochrome has already completed. Monochrome anticipates receiving a decision on their Bitcoin ETF application from Cboe Australia by mid-year.

Monochrome's head of legal and compliance, Derek Vladimir Henningsen, previously estimated that the ETF would be listed by the second quarter of 2024.