Monochrome Asset Management, an Australian investment firm, has transferred its bitcoin exchange-traded fund (ETF) application to Cboe Australia. This strategic move reflects Monochrome Asset Management’s ambition to expand its footprint in Asian markets.
The Australia-based firm disclosed on April 5 its decision to transfer its application for its primary bitcoin exchange-traded fund (ETF) to Cboe Australia. This transition underscores the firm’s dedication to offering investors secure, accessible, and innovative investment opportunities.
In an announcement, Monochrome highlighted that shifting the application to Cboe Australia, an alternative trading platform to the Australian Securities Exchange, aligns with its goal of extending its reach in Asian markets.
Jeff Yew, CEO of Monochrome, shared his thoughts on the firm’s application to Cboe Australia, stating:
“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 further emphasised that the quotation from Cboe would enhance their product lineup and solidify Monochrome’s position in the Asia-Pacific region. Monochrome’s Bitcoin ETF is purportedly the sole option in Australia enabling direct Bitcoin ownership.
As per reports, Australian firms seeking to list a crypto ETF must obtain approval from the Australian Securities & Investments Commission (ASIC) before looking for a listing on an exchange. Reportedly, Monochrome has received ASIC’s green light and is awaiting a decision from Cboe Australia.
Yew reportedly anticipates Cboe Australia to reach a decision before mid-year.