On July 14, Monochrome Asset Management Pty Ltd (Monochrome), in partnership with Vasco Trustees Ltd (Vasco), updated its application with the Australian Securities Exchange (ASX) to list the Monochrome Bitcoin ETF (IBTC), according to the company’s announcement.
Monochrome’s partner, Vasco Trustees, is authorized to offer regulated exposure to the cryptocurrency market for retail investors. This exposure to crypto assets, specifically Bitcoin and Ether, is achieved through two investment schemes: the Monochrome Bitcoin ETF and the Monochrome Ethereum ETF.
Monochrome has received backing from leading service companies, including the Gemini Trust Company, Automic Pty Limited, and State Street Australia Limited.
The recent industry focus has been on the introduction of spot Bitcoin ETFs, with several major financial firms in the United States, such as BlackRock, Invesco, WisdomTree, Valkyrie, and Fidelity, filing applications for these ETFs.
The filing of Monochrome’s Bitcoin ETF application with the ASX, bolstered by support from prominent service companies, points to a growing interest in offering regulated exposure to cryptocurrencies. This is reflective of the industry’s shift towards mainstream adoption.
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