Monochrome Asset Management is the investment manager of Australia’s first and only bitcoin ETF. Unlike most of bitcoin ETFs in the US, Monochrome holds bitcoin directly.
It started trading on the CBOE Australia Exchange on June 4, 2024. This ETF marks a significant step for Bitcoin adoption in the country.
A Bitcoin spot ETF (Exchange-Traded Fund) is a financial product that allows investors to buy shares that represent direct ownership of Bitcoin. This means the ETF holds actual Bitcoin, and its value is based on the current market price of Bitcoin (the “spot” price).
By purchasing shares of a Bitcoin spot ETF, investors can gain exposure to Bitcoin without having to buy and store it themselves, which can be complex and risky.
The People’s Money
The ETF operates by pooling money from investors to buy Bitcoin, which is then stored securely by the fund. Shares of the ETF are traded on stock exchanges, just like shares of other publicly traded companies or commodities.
This makes it easier for investors to buy and sell their Bitcoin holdings through regular brokerage accounts, providing a convenient and regulated way to invest in Bitcoin.
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