More and more companies in the world are looking to launch their own ETFs. This is actually a good step because then it will increase people's interest in getting to know what Bitcoin is and start investing in it. Even though this Bitcoin ETF only replicates the original price of Bitcoin and allows people to trade it, and that will only benefit these companies, but at least in the future these large companies will start buying Bitcoin for their reserves and that will increase the price of Bitcoin.
And perhaps it will also open up opportunities for better Bitcoin regulation in the future.
Topic: Australia's first Bitcoin ETF just opened for trading (Read 267 times)
However, I have no doubt that the next big correction (if there is one) will also be a good opportunity for all those who are already impatiently waiting for a new bear market.
Been waiting for it for a while. There ought to be one, it's part of the definition of cycle and not having one will strengthen the case that cycles as we know it are over -- not something most of us prefer (just yet).Normal people are not going to go buy ETFs, unless they are of the boomer type who do not understand Bitcoin and are trying to invest money that's in their 401k or IRA or something like that.
It's only businesses who are going to buy those things, because they typically have very high custody costs since a lot of crypto is being stored there and the potential of embezzlement is high.
It's only businesses who are going to buy those things, because they typically have very high custody costs since a lot of crypto is being stored there and the potential of embezzlement is high.
Yup, nobody be holding the way a lot of people think ETFs will result it. Nobody be owning, either. It's all going to be shuffled back and forth between the suits. So, really, nothing different. Big yawn for me, honestly.
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...
Rejoice!! Enjoy!!
While Bitcoin is slowly becoming the puppet of the deep pocket corporates!
Seriously we do not really need exchanges to roll out ETFs on Bitcoin. If these ETFs are not holding any physical Bitcoins, that's fine! We shouldn't care!
But if they are holding it, it's a matter of great concern. It's high time that the community starts understanding that it is not safe for commoners like us if Bitcoins are purchased in bulk by these corporates.
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?
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?
Normal people are not going to go buy ETFs, unless they are of the boomer type who do not understand Bitcoin and are trying to invest money that's in their 401k or IRA or something like that.
It's only businesses who are going to buy those things, because they typically have very high custody costs since a lot of crypto is being stored there and the potential of embezzlement is high.
most people prefer to buy bitcoin etf compared to regular bitcoin, because they think that when they buy it their funds will be safe since the etf provider is regulated and has reserves to back it up. but just like you, i personally prefer to buy bitcoin directly from an exchange and hold it in my wallet. because when you buy bitcoin and hold it in your wallet, you can control it freely and anytime you want you can trade it,
People want to get in on with the recent money-making trend but do not want to do all the work so they buy ETFs. It’s honestly the opposite of what should a cryptocurrency be but some people can’t understand that. What are the cons of buying etfs? It would be the added costs that you would need to pay to the company. Bitcoin is as expensive as it is, don’t add more fees to it.
When you also want to trade, ETF might not exactly replicate the current price of bitcoin so you might not get the exact price you wanted to buy or sell for. It might be good for public awareness but I wouldn’t trust these companies too much.
most people prefer to buy bitcoin etf compared to regular bitcoin, because they think that when they buy it their funds will be safe since the etf provider is regulated and has reserves to back it up. but just like you, i personally prefer to buy bitcoin directly from an exchange and hold it in my wallet. because when you buy bitcoin and hold it in your wallet, you can control it freely and anytime you want you can trade it, and you don't have to worry that someone will try to manipulate it.
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?
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?
As long as the price goes up, nobody will have anything against people investing in BTC through ETFs - but the market goes both ways and it's only a matter of time before most of those who buy start selling. It won't be tomorrow or in a couple of months, because even small children know that after the halving, the price always explodes, so this year will probably be about accumulation with the usual minor corrections.
However, I have no doubt that the next big correction (if there is one) will also be a good opportunity for all those who are already impatiently waiting for a new bear market.
This is great news! I also prefer to hold/own/buy bitcoin directly, but there's a lot of people who've got money in retirement plans, like IRA's here in the United States that can't access the funds prior to the age of 59.5, so investing it a bitcoin ETF allows direct exposure as well as limits tax liability (potentially) or is simply the only source of money that they have that is able to be invested in bitcoin.
I wonder if in AU, or other countries across the glove if your stock market allows for US ETFs through ADR's, or a similar type product (ADRs= American Depository Receipts.. a way to own a stock that is not listed in the US)
I wonder if in AU, or other countries across the glove if your stock market allows for US ETFs through ADR's, or a similar type product (ADRs= American Depository Receipts.. a way to own a stock that is not listed in the US)
In Australia you can have your retirement funds setup with Bitcoin.
The retirement savings are called Superannuation in Australia, and you can opt to self manage it. If you do that, you can set it up so that it invests in Bitcoin.
Here's one company that offers this service: https://www.bitaroo.com.au/self-managed-super-fund
So, you don't really need these ETFs to get Bitcoin in your retirement fund in Australia.
This is great news! I also prefer to hold/own/buy bitcoin directly, but there's a lot of people who've got money in retirement plans, like IRA's here in the United States that can't access the funds prior to the age of 59.5, so investing it a bitcoin ETF allows direct exposure as well as limits tax liability (potentially) or is simply the only source of money that they have that is able to be invested in bitcoin.
I wonder if in AU, or other countries across the glove if your stock market allows for US ETFs through ADR's, or a similar type product (ADRs= American Depository Receipts.. a way to own a stock that is not listed in the US)
I wonder if in AU, or other countries across the glove if your stock market allows for US ETFs through ADR's, or a similar type product (ADRs= American Depository Receipts.. a way to own a stock that is not listed in the US)
I just think of ETFs like bonds or those investments in banks where a lot of people are pooling their money so a fund manager can manage so they can make some passive income, if I recall, it's called index funds so correct me if I'm wrong with that one. I don't really agree with the assessment that this was a sought after or that this thing has been on the list of many Australians because bitcoin ETFs aren't really bitcoin as we all know it and it's not really something most of them are looking forward when they can just buy bitcoins directly and probably much more than they're going to pay in bitcoin ETFs.
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.
Anything could have contributed to the little pump realized for today, even though we cannot predict what the end of the day may turned out to be, but just as others have already said, we can't predict if their decision for Bitcoin spot ETF is going to lead to a pump in bitcoin market price till we achieve a new all time high or experience something otherwise, but we all know we are considering a volatile cryptocurrency here and anything can happen at anytime from now, we should only get prepared for whichever comes first.
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.
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?
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?
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?
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".
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".
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.
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.Quote
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.
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
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
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?
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.
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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