Although Australia already has a couple of ETPs exposed to Bitcoin, Monochrome’s spot BTC ETF will be the first to hold physical Bitcoin in its ETF, similar to the United States-based products.
Australian asset manager Monochrome plans to launch its flagship spot Bitcoin exchange-traded fund (ETF) on the global listing exchange Cboe Australia. Monochrome filed for the spot Bitcoin ETF in July 2023.
The Monochrome Bitcoin ETF, if approved, will become Australia’s first spot Bitcoin ETF to permit direct Bitcoin (BTC) holding.
Australian regulators have already greenlighted two exchange-traded products (ETPs) that give exposure to spot crypto assets on Cboe Australia, but these ETPs do not directly hold Bitcoin; instead, they invest in investment products with exposure to spot Bitcoin ETF.
