Monochrome Bitcoin ETF

The Monochrome Bitcoin ETF (IBTC) is Australia's first exchange-traded fund that holds bitcoin directly, offering investors a regulated and secure avenue to gain exposure to bitcoin. Launched on June 4, 2024, IBTC is listed on Cboe Australia under the ticker 'IBTC'. This ETF is authorized under the Australian Financial Services Licensing (AFSL) regime's crypto-asset licensing category, ensuring compliance with stringent regulatory standards. The fund employs a passive buy-and-hold strategy, refraining from using derivatives, leverage, or short selling. Its objective is to provide returns that track the price of bitcoin in Australian dollars, before fees and costs. (monochrome.au)

To enhance transparency and investor confidence, Monochrome partnered with Hoseki in September 2024 to implement daily proof-of-reserves verification for IBTC's bitcoin holdings. This initiative set a new standard in the Australian market by providing verifiable assurance that the assets are secure and fully backed. (monochrome.au) Additionally, IBTC utilizes the CME CF Bitcoin Reference Rate – Asia Pacific Variant (BRRAP) as its benchmark, adhering to international standards set by the International Organisation of Securities Commissions (IOSCO) and the UK Financial Conduct Authority (FCA). This ensures accurate tracking of bitcoin's spot price and offers investors a transparent pricing mechanism. (monochrome.au)