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.
“Prior to IBTC, Australian investors could only invest in ETFs that indirectly held bitcoin or through offshore bitcoin products, which do not benefit from investor protection rules under the service licensing licensing regime. Australian Financial Institutions (AFSL) of directly owned crypto assets. ,” the company bitcoin-etf-with-direct-btc-holdings-to-go-live-on-tuesday/” rel=”noopener” onclick=”return phoenixTrackClickEvent(this, event);” target=”_blank”>fixed.
This development in Australia follows the successful launch of spot bitcoin ETFs in the United States earlier this year. These ETFs have seen considerable success, reflecting strong investor interest and confidence in bitcoin. Additionally, bitcoin ETPs were launched on the London Stock Exchange, and bitcoin exchange-traded commodities (ETCs) were also launched in Germany, further highlighting the global trend towards affordable bitcoin investment products.
