Monochrome Asset Management has filed a draft application to launch its third crypto-based ETF (exchange-traded fund) on Cboe Australia. The Monochrome Litecoin ETF (LTCC) aims to offer investors regulated access to Litecoin.
Subject to exchange and regulatory approval, this new ETF will expand the Monochrome portfolio, which also includes the Monochrome Bitcoin ETF (IBTC) and the Monochrome Ethereum ETF (IETH).
They aim to put Litecoin, one of the oldest, most established cryptocurrencies, in front of Australian investors. Litecoin, which was created in 2011 by Charlie Lee, a former Google engineer, was designed to offer faster transaction speeds than Bitcoin, generating a block every 2.5 minutes, compared with Bitcoin’s 10 minutes.
It is favored as a dependable digital asset due to its decentralized and secure framework, which emphasizes efficiency and practicality.
With the addition of these five new ETFs, Monochrome is further reinforcing its commitment to grow the total Monochrome ecosystem and provide the Australian market with a regulated option to invest in digital assets.
The addition of Litecoin further enhances Monochrome’s ability to provide investors with secure, regulated access to popular cryptocurrencies.
Also Read: Grayscale & CoinShares File for Litecoin & XRP Crypto ETFs
