Australian-based cryptocurrency investment firm Monochrome Asset Management has updated its application for admission to a Bitcoin exchange-traded fund (ETF).bitcoin) on the Australian Securities Exchange (ASX) through its partner Vasco Trustees.
ETF – Monochrome Bitcoin ETF – able to offer Australian retail investors direct exposure to Bitcoin and Ether (ETH), as appropriate announced By the company on July 14.
Australia joins the #Bitcoin offensive. #spot #bitcoinetf @MonochromeAsset
— Jeff (@jeffyew_) 13 July 2023
In an interview with Cointelegraph, Monochrome CEO Jeff Yew said Australian retail investors are taking the license. will benefit from exposure to Bitcoin within a terrific regulatory environment:
“Through a Bitcoin ETF, you can buy and use the asset class as you see fit with your investment options. [e] operates in a regulated manner, as well as within the regular regulatory environment”.
“So this is an advantage over unregulated exchanges where there is no investor protection”added.
Yew believes that if a Bitcoin ETF goes live on ASX, it will send a “clear signal” to mainstream investors that the “unregulated Wild West is coming to an end.” investments will be guaranteed in a “familiar”, “structured” and “protected” environment..
The firm said that Vasco, a “Responsible Entity Partner,” has been authorized by the Australian financial services license to offer retail investors controlled exposure to the cryptocurrency market.
Related: Bitcoin ETF, required “seal of approval” for BTC: Mike Novogratz
requests Spot ETFs Statements on Bitcoin have recently become an element of interest for the industry, especially in the United States. in the last weeks industry has seen Bitcoin spot ETFs invested by major financial firmsIncluding Fidelity, Invesco, Wisdom Tree, Valkyrie and $10 trillion wealth management firm BlackRock.
Translation of Walter Rizzo