Monochrome Asset Administration have introduced the official launch of the Monochrome Bitcoin ETF (IBTC), Australia’s first change traded fund (ETF) that holds bitcoin instantly.
The Monochrome Bitcoin ETF has begun buying and selling on the Cboe Australia change, beneath the ticker ‘IBTC’ (CBOE:IBTC), providing a brand new means for Australian traders to entry bitcoin in a regulated and compliant method.
Investing in bitcoin is risky and excessive threat. In deciding whether or not to amass an curiosity in IBTC, traders ought to learn the Product Disclosure Assertion (PDS) and Goal Market Dedication (TMD), and contemplate if the funding is acceptable for his or her circumstances.
IBTC is accessible through most Australian inventory brokerage apps and platforms. Search for ‘IBTC’ in your brokerage app or share investing platform.
Licensing
The Monochrome Bitcoin ETF (IBTC) is authorised beneath a crypto-asset licensing class beneath the Australian Monetary Providers Licensing (AFSL) regime.
This licensing class was launched on October 29, 2021 to make sure accountable entities who maintain substantial parts of crypto belongings in a retail fund adhere to particular investor safety guidelines surrounding crypto belongings.
IBTC is the primary and solely change traded fund out there to be authorised beneath the crypto asset licensing class. Previous to IBTC, Australian traders had been solely in a position to spend money on ETFs that not directly maintain bitcoin or by way of offshore bitcoin merchandise, each which don’t profit from the investor safety guidelines beneath the instantly held crypto asset AFS licensing regime.
The introduction of IBTC marks a major milestone for Australian monetary markets and its investor group.
Benchmarking
IBTC utilises the CF Benchmarks Ltd CME CF Bitcoin Reference Fee Asia Pacific Variant as its bitcoin value benchmark.
This ensures traders profit from a clear and sturdy pricing mechanism that’s immune to market manipulation. IBTC’s value benchmark adheres to Worldwide Organisation of Securities Commissions (IOSCO) benchmarking requirements.
Custody
IBTC’s bitcoin holdings are saved fully offline in a safe system that’s not related to the Web, beneath a regulated crypto asset custody resolution that meets Australian institutional custody regulatory requirements.
Jeff Yew, CEO of Monochrome Asset Administration, said, “We’re excited to carry the Monochrome Bitcoin ETF (IBTC) to market. IBTC holds bitcoin instantly – a primary in Australia. This aligns with Monochrome’s investor protection-driven mission to supply safe, compliant, and easy pathways to take part on this transformative house.”
