Australian Monochrome's BTC Spot ETF Records 1 BTC Inflows On Day One
CryptoNewsTerminal Staff05 Jun, 2024
Australian Monochrome's BTC Spot ETF Records 1 BTC Inflows On Day One
According to crypto analyst HODL15Capital, Monochrome, an Australian digital asset manager, saw its BTC spot exchange-traded fund (ETF) (IBTC) gain inflows of 1 BTC on its first day of trading on April 4, 2023 (local time). Monochrome first announced its plans for the ETF in November 2022. The company said that the fund would provide investors with exposure to the price of Bitcoin without the need to purchase and store the cryptocurrency themselves. The launch of Monochrome's BTC spot ETF is a significant development for the Australian cryptocurrency market. It is the first physically settled BTC spot ETF to be launched in the country.