Monochrome, a Bitcoin-focused asset management company, and Vasco Trustees have lodged an application for Australia’s first fully licensed spot Bitcoin Exchange Traded Fund (ETF) as a first of its kind under the country’s new regulatory guidelines.

Monochrome announced today on 14 July 2023, its Responsible Entity partner, Vasco Trustees Ltd, lodged an updated application with the ASX to list the Monochrome #Bitcoin ETF, an exchange traded fund that will have direct exposure to bitcoin.

Read more: https://t.co/LfxoRkOywW

— Monochrome (@MonochromeAsset) July 13, 2023

The Monochrome Bitcoin ETF (IBTC), intended to provide regulated Bitcoin exposure for retail investors, comes a year after Vasco received a license to manage crypto spot ETFs in the country.

The Australian Securities and Investments Commission (ASIC) revised its rules for the Australian financial services (AFS) license in late 2021. The amendment aimed to increase transparency among crypto firms and improve investor safeguards:

“Key matters covered by ASIC’s good-practice guide include admission and monitoring standards, custody of crypto-assets, pricing methodologies, disclosure and risk management.”

The updated regulation stipulates institutional support and

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Author: Emily Tonelli

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