A BTC ticker below $30,290 ETF is now available on the ASX thanks to Monochrome Asset Management, an Australian company that specializes in cryptocurrency investments, and its associate Vasco Trustees.
According to the company’s release on July 14, the Monochrome BETF can provide individual Australian investors with a direct opening to Bitcoin. As per Jeff Yew, Monochrome CEO, in an interview with the media company, Australian investors will have access to Bitcoin inside a challenging regulatory environment by getting a license: They may purchase and utilize the class of the assets in Monochrome however they wish to use the investment options in a controlled manner, as well as working inside the standard regulatory framework, thanks to a Bitcoin ETF.
Bitcoin ETF Monochrome In ASE
In contrast to, for instance, uncontrolled markets where there is no protection for the investors, I believe that is the advantage, he said. Because their investments would be supported by a “familiar,” “structured,” and “protected environment,” Yew thinks that if there is a launch of a Bitcoin ETF in Monochrome on the Australian Security Exchange, it would send them a “clear sign” to conventional investors that the ” Wild West is ending.” Vasco, its REP is permitted to provide regulated access to the crypto market to retail investors under the terms of an Australian Financial Services Licence.
Applications for spot BETFs have recently drawn attention from the industry, especially in the US. Major financial institutions, including Fidelity, Valkyrie, Wisdom Tree, Invesco, and the $10T management of assets company BlackRock, have filed spot Bitcoin ETF applications in recent weeks.