Bitcoin is the Future

Australian Monochrome Bitcoin ETF IBTC Launch

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Bitcoin Network

Australia’s first Bitcoin ETF, Monochrome Bitcoin ETF (IBTC), officially launches on 04 June 2024.  The ETF is a 100% Bitcoin holding with a 0.98% management fee, and will trade on CBOE.

Monochrome states, “The fund’s objective is to provide investors with an investment return that tracks the price of bitcoin in Australian dollars (before fees and costs).  The Investment Manager will implement a strictly passive buy and hold investment strategy for bitcoin.  The fund will not use derivatives, leverage, or short selling.”

 

 

Bitcoin ETF adoption is beginning to spread around the World.  Monochrome’s ETF IBTC has some catching up to reach the level of bitcoin holdings from BlackRock and Grayscale, which have reached a combined value of nearly $40 billion dollars with bitcoin price at $70,000 USD.

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