Notes

Monochrome Bitcoin ETF: A Regulated Avenue to Bitcoin Investment
As noted on Coinatory, the Monochrome Bitcoin ETF, designated by the ticker IBTC, will commence trading on the Cboe Australia exchange. This ETF, managed by Monochrome Asset Management, has a management fee of 0.98%, giving investors a regulated pathway to Bitcoin investments. The fund functions within a framework supervised by the Australian Securities & Investments Commission (ASIC), ensuring adherence to financial regulations and investor protection.

Monochrome Asset Management has assured investors that they possess legal rights to their Bitcoin (BTC) within the fund and can request withdrawals. This ETF is unique in the Australian market, being the first and only fund to hold Bitcoin directly. Consequently, the Cboe Australia exchange is the pioneer in the country to list a Bitcoin ETF. Moreover, the Australian Securities Exchange (ASX) is also aiming to approve spot Bitcoin ETFs by the end of the year.

The ETF is engineered to replicate BTC market prices accurately. This design intends to resist market manipulation and be confirmed by market participants. Monochrome works with Gemini, a established crypto exchange, which acts as the custodian for the Bitcoin held within the ETF.

Spot crypto ETFs are structured to track the price of a specific cryptocurrency, allocating portfolio funds straight into that crypto. These funds are traded on public exchanges and typically mirror the price movements of their underlying cryptocurrencies. Crypto ETF to traditional ETFs, crypto ETFs can be held in standard brokerage accounts, delivering a familiar investment vehicle for traditional investors.

The adoption of the Bitcoin ETF is a significant advancement for the cryptocurrency industry. The timing aligns with favorable political and global trends. Early 2024 saw the U.S. Securities and Exchange Commission approve several spot Bitcoin ETFs for listing on all registered national exchanges in the United States.

In addition, in mid-April, Hong Kong conditionally authorized its first spot Bitcoin and Ethereum ETFs. This move establishes Hong Kong as a leading hub in Asia for cryptocurrency investment. Moreover, the U.S. House of Representatives passed the Financial Innovation and Technology for the 21st Century Act (FIT21), demonstrating a supportive stance towards the cryptocurrency industry.

The Monochrome Bitcoin ETF stands for a milestone in the Australian financial market, showing a growing trend of institutional acceptance and regulatory oversight in the cryptocurrency sector. With its unique position as the first directly-held Bitcoin ETF in Australia, it offers investors a regulated and secure option to gain exposure to Bitcoin.


The collaboration with Gemini guarantees robust custodial services, bolstering investor confidence in the security of their assets. As global regulatory frameworks evolve, the introduction of such ETFs is expected to drive further adoption and integration of cryptocurrencies into mainstream financial markets.

This development on Coinatory highlights the progressive steps being taken in various global financial centers to embrace cryptocurrency investments. The approval of spot Bitcoin ETFs in major markets represents a pivotal moment in the broader acceptance and maturation of the crypto industry.

The Monochrome Bitcoin ETF, listed on the Cboe Australia exchange, is a testament to the increasing synergy between traditional financial systems and the innovative world of cryptocurrencies.

Read More: https://coinatory.com/cryptocurrency-news/australias-first-spot-bitcoin-etf-set-to-launch-tuesday-19502/