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Australia marks a significant milestone in cryptocurrency investment as Monochrome Asset Management debuts its Bitcoin ETF (IBTC) on the Cboe Australia exchange. Trading under the ticker IBTC, this is the nation’s first fund to offer direct Bitcoin holdings, differentiating it from other local spot Bitcoin ETFs which do not hold the cryptocurrency directly. The fund features a management fee of 0.98%.
IBTC fills a crucial gap by providing Australian investors real Bitcoin exposure under the protection of the Australian Financial Services Licensing regime. Prior to this, options were limited to ETFs that indirectly held Bitcoin or offshore products lacking domestic regulatory safeguards. This step reflects a broader, global trend toward secure, regulated cryptocurrency investments.
The introduction of IBTC follows the successful launch of similar Bitcoin ETFs in the United States and Europe. These products have enjoyed significant success, underscoring growing global confidence and interest in Bitcoin as an investment. With the new ETF, Australia is now poised to participate more fully in the expanding landscape of cryptocurrency investment.
