Bitcoin spot ETFs continue to expand around the world, as more regulators adjust their regimes to satisfy their investors and improve their global competitiveness in the cryptocurrency economy.
The first Bitcoin spot exchange-traded fund has begun trading on the Cboe Australia stock exchange, this Tuesday, June 4.
The Australian Securities and Investments Commission (ASIC), the country's securities and financial markets regulator, approved the application made by investment fund manager Monochrome Asset Management in early April, to launch the first Bitcoin spot ETF in the country that allows direct possession of the market-leading cryptocurrency.
The investment fund company, Monochrome Asset, announced that its Bitcoin spot fund, the Monochrome Bitcoin ETF, would be listed on the Cboe Australia market, providing investors with direct, regulated, secure and cutting-edge access to the growing Bitcoin market and cryptocurrency financial innovation.
The application for the launch and listing of this Bitcoin spot fund was quickly approved by the securities regulator, according to several reports, suggesting Australia's interest in offering regulated investment products that ensure the safety and protection of investors and that, at the same time, boost their economic growth.
More investors can get exposed to Bitcoin
Prior to the launch of the Monochrome Bitcoin ETF, only investment funds based on cryptocurrency futures contracts were listed in Australia, limiting investors' ability to gain direct exposure to the growing crypto market.
Cryptocurrency futures exchange-traded funds offer investors indirect exposure to cryptocurrencies such as Bitcoin, allowing allocation to contracts that represent the future value of a specific digital asset. On the contrary, through Bitcoin spot ETFs, Australian investors can more directly track the movements of the bitcoin price in the market, enjoying the protections provided by the regulated market.
In the digital asset market, the regulatory approval that Bitcoin spot ETFs received in the United States has represented a significant milestone, opening the doors of other markets to this new asset class.
Thailand also gives green light to Bitcoin spot ETFs
In addition to Australia, regulators in Thailand have recently announced the approval of Bitcoin spot ETFs, in another milestone for digital assets, marking the importance and recognition they have gained among investors in recent months.
After the United States, Hong Kong was the next jurisdiction to approve the listing of cryptocurrency-based spot investment funds, specifically Bitcoin and Ethereum; a move that is also part of its strategic plan to become a world-class cryptocurrency financial center.
Followed by Hong Kong, Bitcoin ETFs received regulatory approval in Australia and, more recently, Thailand, which has confirmed the opening of the Bitcoin spot market to professional and high-net-worth investors.
Bloomberg ETF analyst Eric Balchunas he highlighted in his X account that the Bitcoin spot ETF market has prospered beyond all expectations, raising $2.400 billion in inflows in the last month and more than $14.000 billion so far in 2024.
