Monochrome launches first Australian ETF to hold bitcoin directly

Australia-based Monochrome Asset Management has launched a bitcoin ETF (IBTC), "the market's first and only exchange-traded fund authorized in the crypto asset licensing category, under the Australian Financial Services Licensing (AFSL) regime" .

Before IBTC, Australian investors could only invest in ETFs that held bitcoin indirectly or through offshore bitcoin products, neither of which benefit from investor protection rules under the AFSL regime, according to the announcement.

IBTC will be listed on the Cboe Australia exchange.

This launch continues a growing trend of countries and jurisdictions approving spot bitcoin ETFs or exchange-traded products this year, including the US, Hong Kong and the UK.

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