Australia's first Bitcoin ETF just opened for trading

[nullama]

https://www.monochrome.au/news/articles/monochrome-launches-australias-first-bitcoin-etf-under-crypto-licensing-rules

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

It will be accessible through the Cboe Australia exchange with the ticker "IBTC", more specifically, CBOE:IBTC.

This is probably great news for investors wanting to access Bitcoin directly through an ETF.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

[Upgrade00]

Australia has been a big Bitcoin market for some time now and this ETF will only make it bigger, getting more institutional investors on board.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

Retail investors like you and me can easily buy Bitcoin directly with no hassles. But institutions and corporations will have to jump through technical hoops and bottlenecks to gain exposure to and hold Bitcoin. They need ETFs for indirect ownership making the whole process a lot easier for them.

[Z-tight]

This is probably great news for investors wanting to access Bitcoin directly through an ETF.

Yeah great news for such investors, it could also be good for the price of BTC if there is a good amount in inflows, but then not so good news for self custody.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

It is not about the fees, some investors do not want to learn how to store their keys safely, so it is understandable if they choose to own BTC through spot etf's. However, the recommended way to store BTC is in your self custody, because you ought to be your own bank.

[crwth]

The reason for the fees and the people investing funds in ETF is that they don't want the hassle of investing the time to learn how to buy directly or something. It's hard, especially for those people who are not tech-savvy to invest in it but ETFs give the market with old money that has never been in the crypto market. I think it's a great thing that ETFs were approved.

[Catenaccio]

Australia is another country that approves Bitcoin Spot ETFs but they are not the last one, there will be more countries to do the same decision making changes for Bitcoin Spot ETFs. It will become a new big trend globally and it's good for Bitcoin adoption.

In middle of February 2024, US Captures 83% of Spot Bitcoin ETF Market, Overtaking Canada but about three months passed and Coingecko will need to update their blog article on Bitcoin Spot ETFs.

Spot Bitcoin exchange-traded funds (ETFs) are incorporated in 10 countries worldwide and traded in just 5 geographical markets.

Countries where spot Bitcoin ETFs are incorporated are: G20 countries US, Canada, Germany, Brazil and Australia, the tax havens Bermuda, Jersey, Switzerland, Liechtenstein and Guernsey. Hong Kong could be the first Asian country with a spot Bitcoin ETF, with regulators there prepared to receive applications.

The primary markets for spot Bitcoin ETFs are the US, Europe and Canada, while smaller spot Bitcoin ETF markets have emerged in Brazil and Australia.

[Dunamisx]

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

This is a new development and we expect to see it make some significant impact on bitcoin price this month, whereas there have been many speculations already concerning the bitcoin market price of crossing $73,000 down and close to $80,000 and with these, we also expect to see more of participations in Australia for increased business activities and bitcoin adoption in boosting their own economy.

[hugeblack]

After the US ETF, the impact of this news is very limited to the point that it may not make a difference in the price because most of the liquidity is in the American markets.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

The only advantage of an ETF is that you deal with cryptocurrencies as an investment and therefore you do not fear losing your currencies or regulatory compliance. You may also pay less taxes, so it is an attractive option for investors and not for those who want to use Bitcoin as a payment and investment gateway.

[Z-tight]

This is a new development and we expect to see it make some significant impact on bitcoin price this month,

It may or may not have an impact on the price of BTC, do not expect the amount in inflows in this etf to be as big as when spot etf's were approved in the U.S, because the U.S market is a bigger one. Take note that a BTC spot etf was also approved in HK a few weeks ago, but it is yet to have any major impact on the price of BTC

[temple]

After the US ETF, the impact of this news is very limited to the point that it may not make a difference in the price because most of the liquidity is in the American markets.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

The only advantage of an ETF is that you deal with cryptocurrencies as an investment and therefore you do not fear losing your currencies or regulatory compliance. You may also pay less taxes, so it is an attractive option for investors and not for those who want to use Bitcoin as a payment and investment gateway.

That's true in regards to immediate effects, but I think long term what it does is to further solidifying Bitcoin's potential bottom price level as more ETFs in different places of the world means more access to Bitcoin for more people. It is a derivative product, but if the ETF provider is supposed to hold the Bitcoin in reserve to back up any claims tied to the ETF, it means less circulating Bitcoin on a global level. But as you said, it's not like Bitcoin jumps 10% because Australia launches an Bitcoin ETF product.

Regarding fees, I admit that I have never owned an ETF. I guess investors would incur a "fee per purchase" or do they also incur annual fees for management and administration?

The only advantage of an ETF is that you deal with cryptocurrencies as an investment and therefore you do not fear losing your currencies or regulatory compliance. You may also pay less taxes, so it is an attractive option for investors and not for those who want to use Bitcoin as a payment and investment gateway.

I think you mentioned the two most important aspects here. Some Bitcoin owners don't want to deal with safe Bitcoin storage and regulatory compliance might be quite an important reason. Some interesting statistics would be about the actual ETF buyers. I don't think that it's a lot of normal people, smaller investors. They are probably more inclined to buy Bitcoin on an exchange themselves. I would speculate that the majority of ETF customers are institutional investors. I could be wrong though, but I assume nobody has any significant insights yet.

[God bless u]

https://www.monochrome.au/news/articles/monochrome-launches-australias-first-bitcoin-etf-under-crypto-licensing-rules

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

It will be accessible through the Cboe Australia exchange with the ticker "IBTC", more specifically, CBOE:IBTC.

This is probably great news for investors wanting to access Bitcoin directly through an ETF.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

After waiting for so long now the days have arrived when governments have started to enhance the importance of crypto into their respective countries. The backlash that investors were facing due to the strict policies of governments will now be minimised and making investments will be much easier.

Australian news is good for Bitcoin as it will improve its security and overall trust of people over BTc.

[0t3p0t]

Good news for Ausies who usually invests in ETF's and now they are able to invest in Bitcoin ETF so this is nice move for Monochrome and I know one day this will become bigger in there since a lot of investors are I think interested on it just like in the US and in HongKong. ETF's are I think where the trust is built between investors and an asset so since Bitcoin has huge potential more and more will come and join the trend.

[Zlantann]

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

This is a new development and we expect to see it make some significant impact on bitcoin price this month, whereas there have been many speculations already concerning the bitcoin market price of crossing $73,000 down and close to $80,000 and with these, we also expect to see more of participations in Australia for increased business activities and bitcoin adoption in boosting their own economy.

The US Bitcoin market is the main driver of the price. Another market that could drive the price of Bitcoin is the Chinese market. These countries have large economies which can affect the Bitcoin industry. I think the price of Bitcoin will receive a boost if Mainland China approves the Spot ETF. Nevertheless, it is a welcome development to see the launch of Bitcoin ETF in Australia. It will help to promote Bitcoin awareness and adoption.

After waiting for so long now the days have arrived when governments have started to enhance the importance of crypto into their respective countries. The backlash that investors were facing due to the strict policies of governments will now be minimised and making investments will be much easier.

The Bitcoin ETF is also a means by which the government is using to centralize Bitcoin. These ETF providers will have to face strict regulatory laws from government agencies, so they are practically under government control. By approving these ETFs, the government is indirectly encouraging people to embrace centralization as they step up attacks on decentralized platforms.

[aoluain]

The reason for the fees and the people investing funds in ETF is that they don't want the hassle of investing the time to learn how to buy directly or something. It's hard, especially for those people who are not tech-savvy to invest in it but ETFs give the market with old money that has never been in the crypto market. I think it's a great thing that ETFs were approved.

Thats it, institutional investors make a call to their asset manager, they are not interested
in buying a hardware wallet, transferring FIAT to an exchange after going through
the hassle of KYC/AML, transferring Bitcoin to the wallet etc.

They view a Spot Bitcoin ETF the same as Gold, they dont physically have ownership
of the Gold or any other asset they invest in.

In big business, Time is money.

So This is great news for Australian investors, it opens up exposure to Bitcoin which is
more and more seen as a very viable investment option for any portfolio.

I wonder if this is the reason the Bitcoin market is in the Green today?

[FinePoine0]

The first Bitcoin ETF has launched in Australia
here
Bitcoin takes another step towards going mainstream as the first Bitcoin ETF launches in Australia. The first Bitcoin ETF has launched in Australia, marking another step towards mainstream adoption of cryptocurrency. This follows similar launches in other countries, highlighting the growing global interest in Bitcoin ETFs.
#Bitcoin    #ETF

[peter0425]

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

To me bitcoin is still bitcoin so even if it is ETF that is being opened in different continents, I still consider it as a win. This just shows how the adoption of bitcoin is going worldwide and we are only starting. There’s more to come.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

Unfortunately that is quite literally the point. Some people feel more unsafe about holding their own coins. They also do not want the overly “complicated” process of creating a wallet and storing the coins in there.

I am afraid that some people are just not yet ready for a decentralized world.

[fuguebtc]

This is probably great news for investors wanting to access Bitcoin directly through an ETF.

Yeah great news for such investors, it could also be good for the price of BTC if there is a good amount in inflows, but then not so good news for self custody.

ETFs are not good for self custody, but as you also said, thanks to ETFs, we will have a large amount of money pouring into the market and helping bitcoin prices go higher. Or as Upgrade00 said above, an ETF may not be a wise choice for retail investors like us, but companies and institutions need it to be able to invest in bitcoin. Without ETFs, we would never see large funds like Blackrock investing in bitcoin and there would be no larger inflows into the market.

Personally I just prefer to buy Bitcoin directly though. Maybe there is a benefit in terms of less fees?, but it's not worth it in my mind as you don't hold the key to these coins...

It is not about the fees, some investors do not want to learn how to store their keys safely, so it is understandable if they choose to own BTC through spot etf's. However, the recommended way to store BTC is in your self custody, because you ought to be your own bank.

Besides organizations and companies, what about older people and people who are not tech-savvy but are interested in investing in bitcoin? ETFs solve that because not everyone has the ability or confidence to turn themselves into their own bank.

[Lucius]

More spot BTC ETFs will have a positive effect on the price, but people who invest in BTC in this way are not interested in anything other than profit. So although most people are delighted when they read such news, few wonder what will happen to the price when all these investors start selling BTC?

I don't even want to go into some other negative aspects such as possible hacks or forks, everyone should know that all these companies have never been and will never be interested in Bitcoin in the sense of what it was created for. The old saying goes "be careful what you wish for, because it might happen to you".

[SickDayIn]

It sounds like big news, but it could be a lot bigger. CBOE is a fairly unheard of and unused trading market in Australia. Majority of Australians trade on the ASX (Australian Stock Exchange). Was there any reason why this ETC was not allowed to be list on the primary stock exchange, the ASX?

[buwaytress]

Show me one Aussie who has always wanted Bitcoin but didn't already go out and get his own, sitting on the sidelines patiently for a spot ETF to get into it, and I'll show you... big corporations looking for ways to optimise tax.

I know I shouldn't be such a party-pooper about Bitcoin ETFs but really, I still sort of don't see the point for the yous and mes. Like Lucius says: we're happy when they're all falling over each other to buy, can we be as happy when they rush to sell?

[Kelward]

Monochrome Asset Management just launched Australia's first Bitcoin ETF, named Monochrome Bitcoin ETF (IBTC).

This is a new development and we expect to see it make some significant impact on bitcoin price this month, whereas there have been many speculations already concerning the bitcoin market price of crossing $73,000 down and close to $80,000 and with these, we also expect to see more of participations in Australia for increased business activities and bitcoin adoption in boosting their own economy.

I observed that Bitcoin price as of today is approximately $70k, and I don't know whether the slight price increase is as a result of the news of the Australian ETF approval, because it has been a while since we saw Bitcoin price to to be above $69k. Anyway the latest ETF is a plus for the adoption of Bitcoin, on individual investors level and on institutional levels, more people and companies are holding it through ETFs and in none custodial wallets. Although I don't think that this Australian ETF will have as much impact on Bitcoin price as the US ETF did, but it can be an added advantage to increase the demand of Bitcoin, which will increase it's price to boost the bull run.