The First Bitcoin ETF Spot Officially Launched in Australia
Monochrome Asset Management, an Australian investment firm, is set to introduce Australia’s first spot Bitcoin exchange-traded fund (ETF) on Tuesday, May 4, 2024.
The Monochrome Bitcoin ETF (IBTC) will directly hold BTC in Australia. The ETF is scheduled to be listed for trading on the Cboe Australia exchange on June 4. Monochrome’s investment strategy for bitcoin will be strictly passive, avoiding derivatives, leverage, or short selling, as stated on their website.
Monochrome’s IBTC Launch in Australia In April, Monochrome applied to launch IBTC, capitalizing on the growing interest in spot Bitcoin ETFs beyond the U.S. market. Previously, Monochrome received approval to launch a spot Bitcoin ETF in August 2022, providing investors with direct exposure to BTC, ether, and other cryptocurrencies.
