Australia’s First Physical Bitcoin ETF: Direct Crypto Exposure Arrives

Monochrome’s spot BTC ETF will be the first in Australia to hold physical Bitcoin in its ETF. This is similar to products in the United States.

Unlike the already existing ETPs in Australia, which indirectly offer exposure to spot crypto assets, Monochrome’s ETF aims to hold Bitcoin directly.

Regulatory Approval 

Monochrome has received approval from the Australian Securities Regulator ASIC on two exchange-traded products (ETP). In addition, approval from Cboe Australia is also expected by June. But, they already offer exposure indirectly through other investment vehicles linked to spot Bitcoin.

It was initially planned by Monochrome, to launch the ETF through ASX but has finally opted for Cboe Australia, which aligns with its strategic vision and market reach, says Jeff Yew, Asset Management CEO of Monochrome.

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Investor Transparency

The Monochrome spot Bitcoin ETF offers its investors a straightforward and transparent way to exposure, which is quite similar to US-based spot Bitcoin ETFs.

Spot Bitcoin ETFs became an interest of many governments globally since the U.S. Securities as well as the Exchange Commission approved on January 11, 11 spot BTC ETFs.

The approval of spot BTC ETFs in the United States has made an exciting impact globally, prompting other countries also to consider similar products in their markets.

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