Monochrome Seeks Approval for First Bitcoin ETF in Australia

Monochrome Asset Management has applied with Cboe Australia to list a spot bitcoin ETF, which would be the first in Australia allowing direct bitcoin holdings.

Monochrome expects a decision on the ETF application from Cboe Australia by mid-2024.

The ETF would provide exposure to bitcoin without needing to directly hold the cryptocurrency.

Monochrome chose Cboe Australia over rival ASX for strategic reasons and investor access.

Monochrome has already received regulatory approval for the ETF from the Australian Securities and Investments Commission.