IBTC will be the first Bitcoin-based product to be registered under the new licensing category of crypto assets traded on the Australian branch of the Chicago Board Options Exchange (CBOE).
Monochrome Asset Management CEO Jeff Yew said he expects significant interest in his product given the continued strong demand for US spot BTC-ETF units over the past couple of months and the prospect of the launch of spot Ethereum ETFs.
The Monochrome Bitcoin ETF, the creators assure, complies with the regulatory standards adopted by the AFS in 2021. Unlike similar products in the US and Hong Kong, the instrument allows for redemption in kind.
Earlier, Bloomberg, citing sources familiar with the situation, reported that the Australian stock exchange ASX is preparing to place spot Bitcoin ETFs by the end of 2024.
Source: Bits
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