Australian Securities Exchange Receives Historic First Spot Bitcoin ETF Application
Portfolio Pulse from Murtuza Merchant
Monochrome Asset Management, in partnership with Vasco Trustees, has revised its application with the Australian Securities Exchange (ASX) to offer a spot Bitcoin ETF, marking the first such filing under Australia's new crypto regulations. The Monochrome Bitcoin ETF (IBTC) will provide investors with direct exposure to Bitcoin. The firm's CEO, Jeff Yew, believes the launch of a Bitcoin ETF on the ASX would signal the end of the 'unregulated Wild West' era and offer a structured and protected environment for investors.
July 14, 2023 | 4:40 pm
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The proposed Bitcoin ETF by Monochrome Asset Management and Vasco Trustees could increase the accessibility and legitimacy of Bitcoin, potentially driving up demand and price in the short term.
The proposed Bitcoin ETF would provide a more structured and regulated way for investors to gain exposure to Bitcoin. This could increase the demand for Bitcoin, potentially driving up its price. However, the ETF is still subject to regulatory approval, and there is uncertainty about whether it will be approved.
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IMPORTANCE 80
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