Summary:
Monochrome Group launches Australia's first Bitcoin and Ethereum ETFs in Singapore.
The ETFs are designated as restricted schemes for accredited investors with a minimum investment of S$200,000.
CEO Jeff Yew emphasizes building infrastructure over chasing price moves.
The launch occurs amid significant market turbulence, including over $2 billion in liquidations.
Monochrome plans to establish regional offices by 2025 and enhance security through partnerships.
Australian Crypto ETFs Land in Singapore
Australian crypto-asset firm Monochrome Group has officially registered its Bitcoin (IBTC) and Ethereum (IETH) ETFs with Singapore's Monetary Authority, marking a significant step into Southeast Asia's growing crypto market.
CEO Jeff Yew highlighted, "We're bringing Monochrome to South East Asia, starting with getting the first Australian Bitcoin ETF registered with the Monetary Authority of Singapore."
Key Features of the New ETFs
These ETFs are categorized as restricted schemes, allowing access exclusively for accredited or institutional investors, with a minimum transaction threshold of S$200,000. They accommodate both Bitcoin and cash subscriptions and redemptions, catering to various institutional needs in the region.
Building Infrastructure Amid Market Turbulence
Yew emphasized the importance of establishing real infrastructure for institutions. Reflecting on a recent market downturn that led to over $2 billion in liquidations, he stated, "It's not about chasing price moves—it's about building real infrastructure and giving institutions, investors, and even governments better access to Bitcoin."
Strategic Partnerships and Future Plans
Monochrome is expanding its reach through a partnership with Anadara Capital, enhancing institutional services, and has onboarded BitGo Trust Company for custody services to address security concerns. The firm plans to establish regional offices by 2025, focusing on regulatory compliance and institutional engagement.
The Bigger Picture
This launch comes during a turbulent time in global markets, where institutions are increasingly viewing regulated digital asset products as hedges against geopolitical and macroeconomic instability. Monochrome's initiatives reflect the growing demand for compliant offerings like IBTC/IETH, especially as the crypto market faces significant challenges, including a recent 11.4% drop in market cap.
In a broader context, Yew sees Bitcoin as a unique commodity with fluctuations driven by demand rather than underlying supply issues. He believes that institutional investors are looking beyond short-term volatility, focusing instead on the fundamentals and expanding access to these assets where they are needed most.
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