Bitcoin ETF

Bitcoin

First Bitcoin

Australia is gearing up to join the expanding bandwagon of nations including <a href="https://thecoinrise.com/hong-kong-set-to-approve-its-spot-bitcoin-etfs-in-april/" rel="noopener noreferrer nofollow">Hong Kong</a>, <a href="https://thecoinrise.com/fidelity-investments-introduces-spot-bitcoin-etf-in-canada/" rel="noopener noreferrer nofollow">Canada</a>, and the <a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow">United States</a> to provide spot Bitcoin exchange-traded funds (ETF) to investors.&nbsp;
<h2 id="b-australia-breaking-record-b">Australia Breaking Record</h2>
Monochrome Asset Management, an Australian exchange, is launching the Monochrome Bitcoin ETF (IBTC) to allow investors to engage with BTC in a regulated manner. The ETF will start trading on the Cboe Australia exchange on Tuesday, June 4, barring any unexpected delays.
In addition, the ETF will be traded under the ticker IBTC and will have a management fee of 0.98%. This is a significant milestone for crypto investors in Australia and the country as a whole.&nbsp;
Recently, the <a href="https://thecoinrise.com/australia-could-witness-approval-of-bitcoin-etfs-by-year-end/" rel="noopener noreferrer nofollow">Australian Securities Exchange (ASX) made the announcement about approving several spot Bitcoin ETFs by year-end</a> however, <a href="https://thecoinrise.com/cboe-expands-crypto-offerings-with-margined-bitcoin-and-ether-futures-contracts/" rel="noopener noreferrer nofollow">Cboe Global Market</a>, a leading financial institution has beaten it to the market.&nbsp;
<h2 id="b-what-this-new-stride-means-for-aussie-investors-b">What this new stride means for Aussie Investors</h2>
It is true that Australia does have a few exchange-traded products that provide exposure to Bitcoin. But investors had limited options, <a href="https://thecoinrise.com/3iq-announces-the-launch-of-bitcoin-ether-feeder-etfs-in-australia/" rel="noopener noreferrer nofollow">and were able to invest only in ETFs that indirectly held Bitcoin or through offshore Bitcoin products.&nbsp;</a>
It is a relief for investors in the country as Monochrome stands out as the first to <a href="https://thecoinrise.com/jeff-yews-monochrome-to-launch-spot-btc-etf-in-australia-after-receiving-regulatory-approval/" rel="noopener noreferrer nofollow">receive approval under a new crypto asset licensing category</a> established within the Australian Financial Services (AFS) licensing regulations in 2021.&nbsp;
This new development will likely provide a more direct and regulated way for Australian investors to participate in the Bitcoin market. It is a significant development in the evolving landscape of crypto investments in Australia.
<h2 id="b-spot-bitcoin-etfs-gain-widespread-adoption-b">Spot Bitcoin ETFs Gain Widespread Adoption&nbsp;</h2>
It is a significant step to see that regulated Bitcoin ETFs has gone live after hints on launching in various regions this year, including <a href="https://thecoinrise.com/kraken-uk-head-advocates-for-bitcoin-etfs-in-the-uk/" rel="noopener noreferrer nofollow">the UK</a>, <a href="https://thecoinrise.com/europe-plans-launch-of-first-spot-btc-etf-after-delay/" rel="noopener noreferrer nofollow">Europe</a>, and many more.
Australia’s move reflects the increasing acceptance of Bitcoin as an institutional asset. The regulated framework adds legitimacy, providing investors with a clear path into the Bitcoin market.
This trend could pave the way for more countries to jump on board, benefiting both crypto investors and the industry as a whole.&nbsp;
<h2 id="b-bitcoin-etf-gains-momentum-in-the-u-s-b">Bitcoin ETF gains momentum in the U.S.</h2>
The introduction of spot Bitcoin ETF products in the United States <a href="https://thecoinrise.com/spot-bitcoin-etf-props-up-traditional-investments-binance-exec/" rel="noopener noreferrer nofollow">has brought about a major achievement in the financial realm.</a> Now, these ETFs are being celebrated as the initial authentic tools, allowing institutions to smoothly invest in Bitcoin, bridging traditional finance with the crypto world.
The spot Bitcoin ETFs are gaining traction as consistent <a href="https://thecoinrise.com/us-spot-bitcoin-etfs-mark-sixth-consecutive-day-of-net-inflows/" rel="noopener noreferrer nofollow">net inflow was recorded in the U.S. totaling a whopping $241.12 million over six days of trading.</a>
<a href="https://coinmarketcap.com/currencies/bitcoin-etf-token/" rel="noopener noreferrer nofollow">At the time of writing,</a> Bitcoin ETFs is trading at $0.000709, up by 1.49% in the last 24 hours.
The post <a href="https://thecoinrise.com/australia-launches-first-spot-bitcoin-direct-holdings-etf/" rel="noopener noreferrer nofollow">Australia Launches First Bitcoin Direct-Holdings ETF</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Australia Launches First Bitcoin Direct-Holdings ETF

Table of Contents

TheCoinrise Media

Other articles published on Jun 3, 2024

Roaring Kitty’s New X Post Pushes GameStop Price by 300%

Top Meme Coin Presale in 2024: MoonBag Blows Away Binance and Ripple

Can You Take Your Bitcoin With You After Death? Tech Enthusiast Explores The Convergence Between ...

Ripple CEO Brad Garlinghouse Predicts Inevitable Crypto ETFs Amid $5 Trillion Market Optimism

This Bitcoin-Based Dog Coin Is Taking on DOGE and SHIB

Crypto Weekly Recap: Binance Founder Jailed; Biden Vetoes Crypto Rule; Hong Kong Bans Unlicensed ...

Join our free newsletter for daily crypto updates!