Australia's First Spot Bitcoin ETF With Direct Holdings Officially Starts Trading – Bitcoin Magazine

Australia now officially has its first spot bitcoin ETF that directly owns btc. He bitcoin-etf” rel=”noopener” onclick=”return phoenixTrackClickEvent(this, event);” target=”_blank”>Monochrome Asset Management bitcoin ETF (IBTC) has just started trade when the Cboe Australia exchange opened. The ETF, which trades under the symbol IBTC, carries a management fee of 0.98%.

This milestone makes IBTC the first fund in the country to offer direct holdings of bitcoin, giving investors direct access to btc. This new product is distinguished from Australia's two existing spot bitcoin ETFs, which provide exposure to spot bitcoin without holding bitcoin directly. The Monochrome ETF fills this gap by providing an ETF that actually contains bitcoin.