Monochrome’s Commitment to Investors Evident in Application Transfer

Monochrome Asset Management, an investment management firm based in Australia, announced on April 5 that it had transferred its application for its flagship bitcoin exchange-traded fund (ETF) to Cboe Australia. The firm views this move as a testament to its “commitment to providing investors with secure, accessible, and innovative investment products.”

In a statement, Monochrome expressed that moving the application to Cboe Australia, an alternative trading platform to the Australian Securities Exchange, is in line with its objective of expanding its presence in Asian markets.

Jeff Yew, CEO of Monochrome, commented on the firm’s application to Cboe Australia, saying:

We are proud to work with Cboe Australia to bring Monochrome’s new bitcoin ETF to market, expanding the investment universe for Australian Investors. As leaders in digital assets globally, their established track record and commitment to innovation and safe market accessibility aligns with Monochrome’s strategic objectives.

Yew added that the quotation from Cboe would enrich our product offering and cement Monochrome’s foothold in the Asia-Pacific region. According to the statement, Monochrome’s Bitcoin ETF is the only one in Australia that permits the direct holding of Bitcoin.

According to a report, Australian firms seeking to list a crypto ETF must first receive approval from the Australian Securities & Investments Commission (ASIC) before applying for a listing on an exchange. Reportedly, Monochrome has been given the green light by the ASIC and is now awaiting the decision from Cboe Australia.

Meanwhile, Yew reportedly said he expects Cboe Australia to make its decision sometime before mid-year.