Another country has joined the ranks of Bitcoin $BTC ETF. Following the United States, the United Kingdom, Europe and Asia-Pacific countries, and Hong Kong, Australia has also joined the ranks of countries that offer spot Bitcoin ETF trading. This news has ignited the hopes of investors as Bitcoin is gaining global recognition.

With the Monochrome Bitcoin ETF (IBTC) about to start trading on the Cboe Australia Exchange. At the same time, this news has pushed the price of Bitcoin from around $67,650 to $69,000.

Australia is about to launch its first Bitcoin ETF

On June 4, 2024, Monochrome Asset Management will launch a spot Bitcoin ETF in Australia with the stock code IBTC and a management fee of 0.98%

It is estimated that more countries will join the ranks of applying for Bitcoin and Ethereum $ETH ETFs.

How will this affect the price of Bitcoin? The market outlook is bullish!

The successful launch of spot Bitcoin ETFs in major financial markets has laid the foundation for Australia to join this trend. Recent data shows that Bitcoin (BTC) exchange-traded funds (ETFs) have attracted $216 million in inflows.