Investment firm Monochrome Asset Management (MAM) filed for a Bitcoin Spot ETF in April, which was quickly approved by the Australian Securities and Investments Commission.
The Monochrome Bitcoin ETF will begin trading on the Cboe Australia exchange tomorrow under the ticker IBTC.
Prior to IBTC, Australian investors could only invest in ETFs that indirectly held Bitcoin or through foreign Bitcoin products, neither of which benefited from Australia's investor protection rules.
Since the U.S. #SEC opened the door to #Bitcoin Spot ETFs earlier this year, many countries around the world have become more receptive to crypto ETFs, including the UK, Hong Kong, and most recently, Australia.