Topic: Australia's first Bitcoin ETF just opened for trading - page 2. (Read 340 times)
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.
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.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...
Australian news is good for Bitcoin as it will improve its security and overall trust of people over BTc.
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.
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.
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.
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 
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.
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.
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.
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.
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.
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.
Quote
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.
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.
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.
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. 
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. 
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...
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...
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