{"id":25601,"date":"2024-06-03T10:01:30","date_gmt":"2024-06-03T10:01:30","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/06\/03\/australias-first-spot-bitcoin-etf-to-begin-trading-tomorrow\/"},"modified":"2024-06-03T10:01:30","modified_gmt":"2024-06-03T10:01:30","slug":"australias-first-spot-bitcoin-etf-to-begin-trading-tomorrow","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/06\/03\/australias-first-spot-bitcoin-etf-to-begin-trading-tomorrow\/","title":{"rendered":"Australia\u2019s First Spot Bitcoin ETF To Begin Trading Tomorrow"},"content":{"rendered":"<p>Australia is set to join the growing list of countries offering a spot <a href=\"https:\/\/bitcoinmagazine.com\/guides\/best-bitcoin-only-exchanges\">Bitcoin exchange<\/a>-traded fund (ETF), with the launch of the country&#8217;s first such product expected tomorrow.<\/p>\n<p>JUST IN: \ud83c\udde6\ud83c\uddfa Australia&#8217;s first spot <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETF to go live tomorrow.<\/p>\n<p>Are you prepared? \ud83d\ude80 <a href=\"https:\/\/t.co\/EfKqdMU48P\">pic.twitter.com\/EfKqdMU48P<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1797543991950614917?ref_src=twsrc%5Etfw\">June 3, 2024<\/a><\/p>\n<p>Monochrome Asset Management announced that Bitcoin ETF (IBTC) <a href=\"https:\/\/www.monochrome.au\/products\/monochrome-bitcoin-etf\">will begin trading on June 4th<\/a>, pending any last-minute delays. The ETF will trade under the ticker IBTC and carry a management fee of 0.98%.<\/p>\n<p>Monochrome Asset Management, the issuer, offers the fund as a means for investors to gain exposure to Bitcoin in a regulated framework. <a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">The ETF<\/a> tracks the CME CF Bitcoin Reference Rate index, providing exposure tied directly to the spot price of bitcoin.<\/p>\n<p>Cboe will become the first Australian exchange to list a bitcoin ETF, beating the larger Australian Securities Exchange (ASX) to the market. However, <a href=\"https:\/\/bitcoinmagazine.com\/business\/first-bitcoin-etf-to-launch-in-australia-in-2024-bloomberg\">according to reports<\/a>, the ASX is also planning to approve spot Bitcoin ETFs before the year&#8217;s end.<\/p>\n<p>The launches tap into surging interest following the breakthrough regulatory approval of Bitcoin ETFs in the <a href=\"https:\/\/bitcoinmagazine.com\/markets\/approved-spot-bitcoin-etfs-to-trade-on-us-markets-in-historic-milestone\">US market this January<\/a>. Those products ignited massive inflows from both institutional and retail investors.<\/p>\n<p>Australia is now poised to follow suit in offering investors easy and secure exposure to bitcoin without direct ownership. As a strictly passive ETF, IBTC removes the technical challenges of buying real Bitcoin while providing the return profile tied to bitcoin&#8217;s price.<\/p>\n<p>Regulated Bitcoin ETFs have launched this year across North America, <a href=\"https:\/\/bitcoinmagazine.com\/business\/bitcoin-etps-get-approval-to-list-on-the-london-stock-exchange\">UK<\/a>, Europe and Asia-Pacific. Australia&#8217;s entrance reflects the broader embrace of Bitcoin as an institutional asset class.<\/p>\n<p>Other countries are likely to follow, with major markets now offering spot Bitcoin ETFs. The regulated wrapper provides legitimacy and gives investors a straightforward way to gain exposure.<\/p>","protected":false},"excerpt":{"rendered":"<p>Australia is set to join the growing list of countries offering a spot Bitcoin exchange-traded fund (ETF), with the launch of the country&#8217;s first such product expected tomorrow. JUST IN: \ud83c\udde6\ud83c\uddfa Australia&#8217;s first spot #Bitcoin ETF to go live tomorrow. Are you prepared? \ud83d\ude80 pic.twitter.com\/EfKqdMU48P \u2014 Bitcoin Magazine (@BitcoinMagazine) June 3, 2024 Monochrome Asset Management [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25601","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25601"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=25601"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25601\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}