Australia's First Spot Bitcoin ETF With Direct BTC Holdings to Go Live on Tuesday
Summary
Monochrome Asset Management's Monochrome bitcoin (BTC) exchange-traded fund (ETF) (IBTC) is set to begin trading on the Cboe Australia exchange. This is the first and only ETF in Australia that directly holds bitcoin. Prior to this, Australian investors could only invest in ETFs that indirectly hold bitcoin or through offshore bitcoin products. The company applied for a spot bitcoin (BTC) ETF in April 2024 and has already received approval from the Australian Securities & Investments Commission (ASIC). The move aligns with Monochrome's mission to offer secure, compliant, and straightforward pathways to participate in the digital asset space.
