JAKARTA - Monochrome Asset Management, an Australian-based investment manager company, announced the launch of an innovative product that will change the way investors interact with crypto assets. On June 4, 2024, the Monochrome Bitcoin ETF (IBTC), Australia's first ETF Bitcoin Spot, officially launched, marks a new era in transparent and regular crypto investments.
Monochrome telah mengambil langkah strategis dengan mencatatkan IBTC di bursa Cboe Australia, memberikan investor kesempatan untuk berpartisipasi dalam pasar Bitcoin dengan cara yang lebih aman dan terstruktur.
The ETF is designed to follow a passive investment strategy, in which investment managers will buy and hold Bitcoin without using derivative, leverage, or short selling. This is an approach aimed at reflecting Bitcoin price performance directly and honestly.
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Global Recognition and Investor Protection
With increasing global interest in the Bitcoin Spot ETF, as seen in the United States, Monochrome has taken the initiative to introduce similar products in Australia. Previously, in August 2022, Monochrome had received approval to launch a Bitcoin spot ETF, which is planned to provide direct exposure to investors against Bitcoin, Ether, and other crypto assets.
However, what distinguishes IBTC from previous products is the recognition and protection provided by the Australian financial services license regime (AFS). Quoted from CryptoPotato, Jeff Yew, CEO of Monochrome and former chief executive of Binance Australia, emphasizes that IBTC is the first product approved under the new crypto licensing category implemented by AFS in 2021. This guarantees that these ETFs will use custodian solutions that meet state regulatory standards, with Bitcoin holdings that are stored offline to guarantee maximum security.
The launch of IBTC by Monochrome not only strengthens Australia's position in the global crypto market but also marks important progress in widespread crypto adoption. With the successful launch of Hong Kong's first Bitcoin Spot ETF on April 30, analysts expect that more countries will follow in this trail in the near future.
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