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Monochrome Bitcoin ETF Provides Regulated Bitcoin Investment via Cboe Australia
I came across on Coinatory how the Monochrome Bitcoin ETF, listed under the ticker IBTC, will commence trading on the Cboe Australia exchange. This ETF has a management fee of 0.98%, enabling investors the opportunity to invest in Bitcoin in a regulated environment. The Australian Securities & Investments Commission (ASIC) monitors the regulatory environment to provide investor protection and compliance with financial regulations.

Monochrome Asset Management ensures that investors possess legal rights to their Bitcoin (BTC) held in the fund, permitting them to request withdrawals. Remarkably, this ETF is the first and only fund in Australia to have direct holdings of Bitcoin, establishing Cboe as the pioneering exchange in the country to provide a Bitcoin ETF. The Australian Securities Exchange (ASX) intends to approve spot Bitcoin ETFs by the end of the year.

Designed to mirror BTC market prices, the ETF intends to combat market manipulation and validated by market participants. Monochrome works with the crypto exchange Gemini, which serves as its custodian for Bitcoin. A spot crypto ETF follows the price of a specific cryptocurrency and dedicates portfolio funds directly into that crypto. These funds are traded on public exchanges, commonly following the price movements of the underlying crypto. Much like traditional ETFs, crypto ETFs can be held in standard brokerage accounts, providing access to traditional investors.

The introduction of this spot ETF is timely for the crypto industry, in light of the favorable political and global landscape. In early 2024, the U.S. Securities and Exchange Commission (SEC) approved several spot Bitcoin ETFs for listing on all registered national exchanges in the U.S. Mid-April noted Hong Kong provide conditional approval for its first spot Bitcoin and Ethereum ETFs, positioning the city as a leading hub in Asia for crypto investment. Furthermore, the U.S. House of Representatives approved the Financial Innovation and Technology for the 21st Century Act (FIT21), demonstrating a supportive stance toward the crypto industry.

The global acceptance of Bitcoin ETFs signifies a significant milestone in the maturation of the cryptocurrency market. Coinatory noted, these developments reflect a growing recognition of digital assets in traditional financial markets. The Monochrome Bitcoin ETF’s debut on the Cboe Australia exchange is a significant move in offering investors safe and regulated access to Bitcoin, potentially encouraging wider adoption of cryptocurrency investments.

In summary, the Monochrome Bitcoin ETF signifies a significant advancement for both the Australian and global cryptocurrency markets. With its introduction on Cboe Australia and monitoring by ASIC, the fund presents a regulated and secure avenue for investing in Bitcoin. As more regions like the U.S. and Hong Kong embrace spot Bitcoin ETFs, the cryptocurrency market is positioned for further integration into mainstream financial systems.


Here's my website: https://coinatory.com/cryptocurrency-news/australias-first-spot-bitcoin-etf-set-to-launch-tuesday-19502/