Key Takeaways
Monochrome Asset Management has applied to global listing exchange Cboe Australia for the country’s first spot Bitcoin ETF;
The choice of Cboe Australia aims to leverage its strong reputation, strategic positioning in the Asia Pacific and beyond, and broad investor access;
Having already received approval from the Australian Securities and Investments Commission (ASIC), Monochrome awaits Cboe Australia’s decision.
Monochrome Asset Management has submitted an application to global listing exchange Cboe Australia for a spot Bitcoin (BTC) exchange-traded fund (ETF).
Australia is already familiar with crypto-based ETF products, however, this would be the first one holding Bitcoin directly.
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Monochrome has chosen Cboe Australia as the listing venue for its established reputation in the Asia Pacific region and beyond, strategic positioning, and investor access.
Jeff Yew, CEO of Monochrome Asset Management, also shared his positive outlook on working with Cboe Australia:
As leaders in digital assets globally, their established track record and commitment to innovation and safe market accessibility aligns with Monochrome’s strategic objectives.
The application process in Australia requires prior approval from the Australian Securities and Investments Commission (ASIC), which Monochrome has already secured.
With ASIC’s green light, the firm now awaits Cboe Australia’s decision, expected by mid-year.
If successful, the Monochrome Bitcoin ETF will mark a major achievement in Australia’s financial landscape, offering a new way to engage with Bitcoin and attracting a broader range of investors interested in crypto.
Meanwhile, in the United States, several companies, including BlackRock, Grayscale, and Fidelity, await the SEC’s decision on the approval of spot Ether ETFs.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers. Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain and Web3 education, Aaron strives to transform the space as we know it and make it more approachable to complete beginners. Aaron has been quoted by multiple established outlets and is a published author himself. Even during his free time, he enjoys researching the market trends and looking for the next supernova.
