Monochrome Asset Management Seeks to Launch Australia’s First Spot Bitcoin ETF
Monochrome Asset Management has taken a significant step towards launching Australia’s first spot Bitcoin exchange-traded fund (ETF) by submitting an application to global listing exchange Cboe Australia. While Australia is no stranger to crypto-based ETF products, this would be the first one directly holding Bitcoin.
The decision to choose Cboe Australia as the listing venue was strategic, leveraging the exchange’s strong reputation in the Asia Pacific region and beyond, as well as its broad investor access. Jeff Yew, CEO of Monochrome Asset Management, expressed optimism about the partnership with Cboe Australia, citing their track record in digital assets and commitment to innovation and market accessibility.
Having already received approval from the Australian Securities and Investments Commission (ASIC), Monochrome now awaits Cboe Australia’s decision, expected by mid-year. If successful, the Monochrome Bitcoin ETF would represent a significant milestone in Australia’s financial landscape, providing a new avenue for investors to engage with Bitcoin.
In the United States, companies like BlackRock, Grayscale, and Fidelity are also awaiting the SEC’s decision on spot Ether ETF approvals. The growing interest in crypto-based ETFs reflects a broader trend towards mainstream adoption of digital assets.
With a background in Economics, Politics, and Cultures of the East Asia region, Aaron, the writer of this news story, brings a wealth of knowledge and experience in the FinTech industry. His passion for blockchain and digital currencies shines through in his data-driven and fact-based content, making complex topics more approachable for readers. Stay tuned for more updates on the evolving landscape of cryptocurrency investments.
