Australia's first spot Bitcoin ETF with direct BTC holdings to launch on Tuesday
Australia already has two exchange-traded products that provide spot cryptoasset exposure on Cboe Australia, but they do not hold bitcoins directly.
Australia-based Monochrome Asset Management's Monochrome bitcoin (BTC) exchange-traded fund (ETF) (IBTC) will begin trading on the Cboe Australia exchange on Tuesday, the company told CoinDesk.
The product is the first and only ETF to hold bitcoin directly in Australia, the company said.
âPrior to IBTC, Australian investors could only invest in ETFs that indirectly held bitcoin or through offshore bitcoin products, which do not benefit from investor protection rules under the service licensing licensing regime. Australian Financial Institutions (AFSL) of directly owned crypto assets. âthe ad said.
âThis aligns with Monochromeâs investor protection-driven mission to provide safe, compliant and easy ways to participate in this transformative space,â Jeff Yew, CEO of Monochrome Asset Management.
