The Monochrome Bitcoin ETF, listed under the ticker IBTC, will commence trading on the Cboe Australia exchange. With a management fee of 0.98%, Monochrome Asset Management offers this fund to provide investors with access to Bitcoin within a regulated framework. This framework, overseen by the Australian Securities & Investments Commission (ASIC), ensures investor protection and compliance with financial regulations.
Monochrome Asset Management has assured that investors possess legal rights to their Bitcoin (BTC) within the fund and can request withdrawals. This ETF is the first and only fund in Australia to hold Bitcoin directly, making Cboe the pioneer exchange in the country to offer a Bitcoin ETF. The Australian Securities Exchange (ASX) is also aiming to approve spot Bitcoin ETFs by the end of the year.
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First found on: Crypto news from Coinatory
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