Monochrome Submits Revised Application for Spot Bitcoin ETF Listing on Australian Stock Exchange

Monochrome Asset Management, an Australian crypto investment firm, has made amendments to its application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on the Australian Securities Exchange (ASX) in collaboration with Vasco Trustees.

According to the company’s announcement on July 14, the Monochrome Bitcoin ETF (IBTC) will enable retail investors in Australia to directly access Bitcoin (BTC) and Ethereum (ETH).

Jeff Yew, CEO of Monochrome, explained that obtaining a license for a Bitcoin ETF would allow Australian retail investors to engage with the asset class in a regulated manner, providing them with investment choices while operating within the established regulatory framework. Yew emphasized the benefit of investor protection that comes with a regulated environment, as opposed to unregulated exchanges.

Yew believes that the launch of a Bitcoin ETF on ASX would send a clear signal to traditional investors that the era of the “unregulated Wild West” is coming to an end. The investments would be supported by a familiar, structured, and protected environment.

Monochrome’s partner, Vasco, acts as the “Responsible Entity Partner” and is authorized under the Australian Financial Services License to offer regulated exposure to the cryptocurrency market for retail investors.

Spot Bitcoin ETF applications have gained significant attention in the industry, particularly in the United States. Several major financial firms, including Fidelity, Invesco, Wisdom Tree, Valkyrie, and the $10 trillion asset management firm BlackRock, have recently filed spot Bitcoin ETF applications.

For more news, find me on Twitter or subscribe to my YouTube channel.

What is your opinion on this issue? Leave me your comment below! I’m always interested in your opinion!

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended for you