Australia is set to make an entry into the crypto investment landscape with the launch of its first spot Bitcoin exchange-traded fund (ETF) tomorrow. Monochrome Asset Management’s Bitcoin ETF (IBTC) will begin trading on the Cboe Australia exchange on June 4th, pending any last-minute delays. This development marks Australia’s alignment with global trends following the US’s regulatory approval of spot BTC ETFs earlier this year.
Australia Also Introduces Spot Bitcoin ETFs
Monochrome Asset Management, an Australia-based firm, is at the forefront of this launch. The IBTC ETF will trade under the ticker IBTC and carry a management fee of 0.98%. The ETF is designed to offer investors direct exposure to BTC, tracking the CME CF Bitcoin Reference Rate index, which ties its value directly to the spot price. This approach eliminates the complexities and technical challenges…
