Australia launches first spot Bitcoin ETF
Australia has launched its first spot Bitcoin ETF, which directly holds Bitcoin and is managed by Monochrome Asset Management. The ETF, which trades under the ticker IBTC on the Cboe Australia exchange, has a management fee of 0.98%.
This launch marks the first opportunity for Australian investors to participate in a local fund that offers direct holdings of Bitcoin and improves access to Bitcoin investments under the regulated Australian Financial Services Licensing (AFSL) framework.
Access to direct Bitcoin holdings for Australian investors
Until now, Australian investors have only had access to ETFs that indirectly held bitcoin, or had to resort to international bitcoin products that lacked the protection of the AFSL. The emergence of IBTC not only serves the increasing demand for bitcoin, but also aligns with global financial trends, as demonstrated by the successful launches of similar bitcoin investment products in the United States, on the London Stock Exchange in the United Kingdom, and in Germany.
These developments underline growing international trust and interest in Bitcoin as an investment asset.
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