Monochrome Bitcoin ETF Set to List on Cboe Australia
Brisbane-based Monochrome Asset Management has exciting news for you! They have recently announced that they have moved their application for their flagship product, the Monochrome Bitcoin exchange-traded fund (ETF), to be listed on the Cboe Australia.
- The Australian firm originally applied to list their ETF on the Australian Securities Exchange (ASX) in July 2023.
- Cboe Australia serves as an alternative trading execution venue to the ASX.
- One of the reasons for choosing Cboe Australia is due to its expanding investment landscape in Asia.
- The Australian asset management firm hopes to benefit from Cboe’s market position and expertise in the region.
- Monochrome’s CEO, Jeff Yew, expressed pride in working with Cboe Australia to bring the new bitcoin ETF to market, extending the investment opportunities for Australian investors.
Bitcoin ETFs Listed on ASX and Cboe
Currently, there are several Bitcoin ETFs trading on both the ASX and Cboe Australia:
- BetaShares Crypto Innovators ETF (CRYP)
- Global X 21Shares Bitcoin ETF (EBTC)
- Global X 21Shares Ethereum ETF (EETH)
- 3iQ CoinShares Bitcoin Feeder ETF (BT3Q)
- 3iQ CoinShares Ether Feeder ETF (ET3Q)
Bitcoin ETF Trading Frenzy
This year, the U.S. Securities Exchange Commission (SEC) has approved approximately twelve spot Bitcoin ETFs, leading to a significant trading frenzy. Among them, the BlackRock iShares Bitcoin ETF, trading under the ticker symbol IBIT, has been dominating the market.
Global Expansion of Bitcoin ETF Frenzy
March saw two asset management firms in Hong Kong jointly applying for a spot Bitcoin ETF with the Securities and Futures Commission (SFC). The move coincides with the regulator’s interest in ‘in-kind’ BTC spot ETFs in the second quarter of 2024.
VSFG and Value Partners have announced their application for a spot Bitcoin ETF, aiming to establish first-mover advantages by introducing the investment vehicle to both retail and institutional investors.
Meanwhile, in the UK, the London Stock Exchange will soon start accepting applications for trading crypto exchange-traded notes (ETNs) from April 8, mirroring the characteristics of ETFs by trading on major exchanges.
Hot Take: What’s Next for Bitcoin ETFs?
In conclusion, the global interest and investment in Bitcoin ETFs continue to surge as more countries and regions explore opportunities to offer these investment vehicles to investors. With increasing approval and acceptance of such ETFs, the crypto market is witnessing a significant transformation in how investors engage with digital assets.
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