{"id":220835,"date":"2024-04-05T14:10:31","date_gmt":"2024-04-05T14:10:31","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/05\/first-spot-bitcoin-etf-to-launch-in-australia-says-monochrome\/"},"modified":"2025-06-25T17:19:14","modified_gmt":"2025-06-25T17:19:14","slug":"first-spot-bitcoin-etf-to-launch-in-australia-says-monochrome","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/04\/05\/first-spot-bitcoin-etf-to-launch-in-australia-says-monochrome\/","title":{"rendered":"First Spot Bitcoin ETF to launch in Australia, Says Monochrome"},"content":{"rendered":"<p> [ad_1]<br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA1NTI0NzQ0MDIyMjcxMzY5\/group-3689-1.png\" \/><\/p>\n<p>Australian asset manager Monochrome plans to launch the nation&#8217;s first spot bitcoin exchange-traded fund (ETF) that holds physical bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN:  \ud83c\udde6\ud83c\uddfa The first <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> spot ETF in Australia to go live &quot;in 2024,&quot; asset manager Monochrome says.<\/p>\n<p>It would be the first Australian ETF to hold <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> directly. <a href=\"https:\/\/t.co\/x8nYRNzZra\">pic.twitter.com\/x8nYRNzZra<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1776214544597053463?ref_src=twsrc%5Etfw\">April 5, 2024<\/a><\/p><\/blockquote>\n<p>Monochrome filed an application with securities exchange Cboe Australia to list its flagship bitcoin ETF product. The firm expects approval by mid-2024.<\/p>\n<p>Unlike previous bitcoin exchange-traded products in Australia, Monochrome&#8217;s ETF would hold actual bitcoin. This structure mirrors the highly successful spot bitcoin ETFs in the United States.<\/p>\n<p>The Australian Securities and Investments Commission has already greenlighted Monochrome&#8217;s proposal. Cboe Australia is now reviewing the application.<\/p>\n<p>&#8220;We anticipate a decision from Cboe Australia about the Monochrome Bitcoin ETF before the middle of 2024,&#8221; said CEO Jeff Yew. &#8220;The Monochrome Bitcoin ETF stands to be the first Bitcoin ETF in Australia authorized to hold Bitcoin directly.&#8221;<\/p>\n<p>If approved, the ETF would provide local investors with direct exposure to bitcoin through a regulated investment vehicle. Monochrome said it chose Cboe for its strategic expertise and extensive reach across Asia.<\/p>\n<p>The firm had originally planned to list on rival exchange ASX, but it has since pivoted to Cboe&#8217;s platform.<\/p>\n<p>Australia joining the spot bitcoin ETF movement could further validate Bitcoin as an investable asset class, as Monochrome is aiming to tap surging institutional demand as the Bitcoin industry matures.<\/p>\n<p>The fund&#8217;s launch would arrive just before Bitcoin&#8217;s next halving event, likely boosting interest. As the first to hold physical bitcoin, Monochrome could quickly dominate the local ETF space in Australia.\u00a0<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/business\/first-spot-bitcoin-etf-australia-this-summer\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Australian asset manager Monochrome plans to launch the nation&#8217;s first spot bitcoin exchange-traded fund (ETF) that holds physical bitcoin. JUST IN: \ud83c\udde6\ud83c\uddfa The first<\/p>\n","protected":false},"author":1,"featured_media":220836,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220835"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=220835"}],"version-history":[{"count":1,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220835\/revisions"}],"predecessor-version":[{"id":330459,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/220835\/revisions\/330459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/220836"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=220835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=220835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=220835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}