Key Takeaways
- Australia's first spot Bitcoin ETF, Monochrome Bitcoin ETF (IBTC), will begin trading tomorrow on CBOE.
- The CBOE is the first Australian exchange to list a Bitcoin ETF, ahead of the Australian Securities Exchange (ASX).
- Regulated Bitcoin ETFs have launched this year in North America, the UK, Europe, and the Asia-Pacific region.
Australia is set to launch its first spot Bitcoin exchange-traded fund (ETF), with trading of the Monochrome Bitcoin ETF (IBTC) commencing tomorrow on the CBOE.
This event represents a major milestone in the adoption of Bitcoin within the country.
Monochrome Asset Management, the fund’s issuer, has announced that the ETF will trade under the ticker IBTC and will carry a management fee of 0.98%.
The ETF aims to provide investors with a regulated means to gain exposure to Bitcoin, tracking the CME CF Bitcoin Reference Rate index to reflect the spot price of Bitcoin directly.
CBOE before ASX
The CBOE will be the first Australian exchange to list a Bitcoin ETF, surpassing the larger Australian Securities Exchange (ASX), which is also expected to approve spot Bitcoin ETFs by the end of the year.
This launch aligns with the global trend following the US regulatory approval of Bitcoin ETFs in January, which led to significant inflows from institutional and retail investors.
Australia’s IBTC offers a straightforward and secure way for investors to gain exposure to Bitcoin without the complexities of owning the digital asset directly.
As a passive ETF, it simplifies the process while mirroring Bitcoin’s return profile.
