* Australia has the first Spot ETF directly held $BTC

In Australia, companies that want to launch financial products need to be approved first by the Australian Securities and Investments Commission (ASIC), and then go to the exchange that will list that product, here Cboe Australia.

Monochrome Asset Management filed for a Bitcoin Spot ETF in April and was quickly approved by ASIC. This milestone makes IBTC the first and only ETF in the country to directly hold Bitcoin.

Before IBTC, Australian investors could only invest in ETFs that held Bitcoin indirectly or through offshore Bitcoin products, neither of which benefited from investor protection rules. of the country.

Since the US gave the green light to the Bitcoin Spot ETF in January 2024, many jurisdictions around the world such as Hong Kong, the UK or most recently Australia have also started facilitating this product. Hong Kong officially approved the first Bitcoin Spot ETF in late April, but the inflow of these funds is still nascent compared to the broader U.S. ETF market.

#binance #BTC☀ #Bitcoin❗ #ETFbitcoin‬