Australia now officially has its first Bitcoin ETF that directly holds Bitcoin (BTC). the Mono Asset Management Bitcoin ETF (IBTC) is just getting started commerce With the opening of the Cboe Australia stock exchange. Trading under the ticker IBTC, the ETF carries a management fee of 0.98%.
Urgent: 🇦🇺 First place for Australia #Bitcoin ETF to hold #Bitcoin Trading officially begins immediately. pic.twitter.com/k4OPyPDm5O
– Bitcoin Magazine (@BitcoinMagazine) June 4, 2024
This achievement makes IBTC the first fund in the country to offer direct Bitcoin holdings, providing investors with direct access to BTC. This new product is distinct from two other Bitcoin ETFs in Australia, which provide exposure to spot Bitcoin without holding Bitcoin directly. Monochrome's ETFs fill this gap, by providing ETFs that actually contain Bitcoin.
“Prior to IBTC, Australian investors were only able to invest in ETFs that held bitcoin indirectly or through offshore bitcoin products, both of which do not benefit from investor protection rules under the Australian Crypto Asset License (AFSL) regime for crypto assets,” the company said. advertiser.
This development in Australia follows the successful launch of spot bitcoin ETFs in the US earlier this year. These ETFs have seen significant success, reflecting strong investor interest and confidence in Bitcoin. In addition, Bitcoin exchange-traded products were launched on the London Stock Exchange, and Bitcoin exchange-traded commodities (ETCs) were launched in Germany as well, further highlighting the global trend towards accessible Bitcoin investment products.