Monochrome Asset Management announced its bitcoin-etf”>Monochrome bitcoin ETF
The Monochrome bitcoin ETF, launched earlier this year, has seen steady inflows totaling 134 bitcoins worth over A$11 million. The fund is now collaborating with Hoseki to provide daily proof of reserves for its bitcoin holdings.
Hoseki’s advanced verification process, Hoseki Verified, will enable Monochrome to deliver independently verified evidence that investors’ assets are fully accounted for. This ongoing audit sets a higher standard of transparency in Australian bitcoin ETFs.
“Proof of reserves is important to establish full operational transparency for a bitcoin ETF,” said Jeff Yew, CEO of Monochrome Asset Management. “Our partnership with Hoseki underscores our commitment to establishing the highest standards of integrity and reliability in bitcoin ETFs, setting a precedent for the industry.”
According to Monochrome, the Hoseki integration also aligns with its unique capability for direct bitcoin applications and redemptions, ensuring privacy and maintaining transparency.
As a leading bitcoin verification provider, Hoseki will perform real-time validation that IBTC’s bitcoin reserves match their declared holdings. This provides clear proof of assets to investors. The initiative may drive broader adoption of rigorous verification measures across the bitcoin ETF landscape.
