Fun

Australian Monochrome spot Bitcoin ETF expected to launch within 2 months, says CEO

News Feed - 2024-04-05 07:04:17

Prashant Jha13 hours agoAustralian Monochrome spot Bitcoin ETF expected to launch within 2 months, says CEOAlthough 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.2911 Total views12 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAustralian 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.


To list their spot Bitcoin ETF in Australia, asset managers must first get approval from the securities regulator and then apply for an exchange listing.


FOLLOW BITCOIN HALVING COVERAGE IN FULL HERE


Monochrome has already received approval from the Australian Securities regulator ASIC and expects Cboe Australia to clear its application by June.


The asset manager was earlier slated to launch its spot Bitcoin ETF via Cboe rival ASX; however, Jeff Yew, Monochrome Asset Management CEO, told Cointelegraph that the selection of Cboe Australia as the listing venue for the Monochrome Bitcoin ETF aligns more “closely with our strategic vision, market reach and time frame.” Yew added:“We anticipate a decision from Cboe Australia about the Monochrome Bitcoin ETF before the middle of 2024. The Monochrome Bitcoin ETF stands to be the first Bitcoin ETF in Australia authorized to hold Bitcoin directly.”


Yew explained that the key difference between existing ETPs and the Monochrome spot Bitcoin ETF is it provides investors with a straightforward, transparent pathway to exposure. It is identical to “how spot Bitcoin ETFs are structured in the United States.”


Related:Blockchain Association files support in suit to lift Tornado Cash sanctions


Spot Bitcoin ETFs have become a focus of major governments worldwide ever since the U.S. Securities and Exchange Commission approved 11 spot BTC ETFs on Jan. 11.


The successful launch of spot BTC ETFs in the U.S. has prompted other countries to consider the possibility of introducing similar products in their own markets.


Magazine:Should you ‘orange pill’ children? The case for Bitcoin kids books# Bitcoin# Blockchain# Cryptocurrencies# Australia# ETF# Adoption# CBOE# RegulationAdd reactionRead moreSecuring your crypto funds: Exchanges add support for hardware 2FASouth Korea implements tougher rules for crypto exchange listingsBitcoin spikes outside US hours, traders could ‘take advantage’ — Analyst

News Feed

Solana near yearly high after 27% July gain and SOL price ‘double bottom’
Biraajmaan Tamuly3 hours agoSolana near yearly high after 27% July gain and SOL price ‘double bottom’Solana liquid staking tokens are increasing the network’s onchain activity as its TVL crosses $5.5 billion.650 To
Yashu Gola9 hours agoWhy is Cardano price up today?Cardano price has rallied substantially as traders see its potential of bypassing the SEC"s regulatory threats based on the recent Ripple win.11055 Total views50 Total s
Mark Cuban says he wants Gary Gensler’s job as head of the SEC
Tristan Greene5 hours agoMark Cuban says he wants Gary Gensler’s job as head of the SECThe crypto-friendly billionaire appears to be throwing his full support behind US presidential candidate Kamala Harris.1580 Total v
Spill Your Sats: US Tax Advisor Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly
Spill Your Sats: US Tax Advisor Tells Crypto Customers to Self-Report on Taxes, Even If Imperfectly Tax season for United States residents is fast approaching, and the IRS wants
20% of Binance’s new hires this year will be in compliance, says CEO
Martin Young3 hours ago20% of Binance’s new hires this year will be in compliance, says CEOThe company aims to increase its compliance workforce by 200 this year, along with another 800 staff in other departments. 635
US Startup Raising $10 Million for Private Jets You Can Lease With Crypto
Jet Token is raising up to $10 million in a Regulation A offering for its ethereum-powered private jet leasing marketplace where travelers can pay for charters using ERC20 tokens. P
Amaka Nwaokocha55 minutes agoBlockFi’s Chapter 11 plan progresses with conditional court approvalOnce the bankruptcy plan receives approval, the lender said it intends to concentrate on recovering funds from other defu
Win up to 3,000 USDT at LBank Exchange’s 100% Winning Event!
Win up to 3,000 USDT at LBank Exchange’s 100% Winning Event! press release PRESS RELEASE. Isn’t it always nice to know that you are guaranteed to win? It’s not a dre
DePin Helium Mobile releases first post-roadmap progress update
Vince Quill8 hours agoDePin Helium Mobile releases first post-roadmap progress updateDecentralized physical infrastructure networks represented the fourth-most profitable sector for investors in the first half of 2024.85
TNC IT Group’s Token to Be Listed This April
TNC IT Group’s Token to Be Listed This AprilTNC IT Group (TNC), an international blockchain company, will have its native currency TNC Coin listed on crypto exchanges by April 30.
Robert Kiyosaki Buying More Bitcoin — Warns SEC Regulations Will Crush Most Cryptocurrencies
Robert Kiyosaki Buying More Bitcoin — Warns SEC Regulations Will Crush Most Cryptocurrencies The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has re
UK Law Commission Publishes Proposals to Reform Laws Relating to Digital Assets — Says Reforms Must Not ‘Stifle Development’
UK Law Commission Publishes Proposals to Reform Laws Relating to Digital Assets — Says Reforms Must Not "Stifle Development" According to the Law Commission, the United Kingdom s