Monochrome’s Bitcoin ETF is Not Australia’s First Spot Bitcoin ETF
CryptoNewsTerminal Staff03 Jun, 2024
Monochrome’s Bitcoin ETF is Not Australia’s First Spot Bitcoin ETF
Bloomberg Analyst Clarifies Australia's Spot Bitcoin ETFs Bloomberg ETF analyst Eric Balchunas took to Twitter to clarify that the recently announced Bitcoin spot ETF from Monochrome is not Australia's first spot ETF. Balchunas pointed out that Global X and 21Shares launched Australia's first physical Bitcoin ETF in May 2022, which currently has around $72 million in assets under management and trades on CBOE Australia. He added that the first physical Bitcoin ETF to list on the main Australia Stock Exchange (ASX) is still pending approval and is from VanEck Australia. Monochrome, the issuer of the Australian Bitcoin Spot ETF, had earlier announced on Twitter that their ETF is "Australia's first ETF to directly hold physical Bitcoin." The clarification from Balchunas serves as a reminder to conduct thorough research and verify information before making claims. It also highlights the increasing interest in Bitcoin spot ETFs as a means for investors to gain exposure to the cryptocurrency.
