Monochrome Launching Australia's First Bitcoin ETF

Monochrome plans to launch Australia's first spot Bitcoin exchange-traded fund (ETF) on Cboe Australia.

The ETF will directly hold Bitcoin, unlike existing exchange-traded products (ETPs) in Australia.

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Monochrome has approval from the Australian Securities regulator ASIC and expects clearance from Cboe Australia by June.

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Initially, Monochrome intended to launch the ETF on ASX but chose Cboe Australia for better alignment with their goals.

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The Monochrome Bitcoin ETF aims to offer a clear and transparent way for investors to access Bitcoin.

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The success of spot Bitcoin ETFs in the US has led other countries to consider introducing similar products in their markets.

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