Topic: Monochrome CEO Jeff Yew files for ETF - Positive about the result (Read 169 times)

Getting approval in Australia might not be as difficult as in the US. After all spot bitcoin ETF is not new in most countries. Countries like Brazil, Dubai, Canada, and some in Europe have approved it.

The US is getting more attention because of its large crypto market.

Maybe you're mistaken in your vision of what would happen in that case - because every spot BTC ETF is actually custodial service and increasing centralization, and a growing departure from what Bitcoin should actually be. Of course, the average small investor just wants a higher price, and he thinks that this will be achieved by large investors starting to buy large amounts of BTC, but this game is a two-blade sword.

Honestly, I don't know that company until the news give them the highlight and joins the bandwagon for the application for a Bitcoin ETF. This gives win-win situation both for Bitcoin and for them if ever they get an approval. But as long as it remains to be an application, there's no celebration yet but we do see that many companies are starting to get interested onto these Bitcoin ETFs. I think they do understand that it is because they're still ahead of the game compared to the other markets that they've been in.

I think everyone is on the bandwagon today. But I think it's better if we will get a approval from the US SEC itself because it's going to be huge.

And if I'm not mistaken, there are also countries that might have approved bitcoin ETF (I might be wrong though), but all eyes are still in the US SEC. And now that Ripple labs have won their case against SEC maybe sooner or later SEC might bent and give way to crypto with a Spot Bitcoin ETF approval.

It’s an Australian which surely an unknown company to anyone that doesn’t live on Australia. AFAIK, other country SEC usually is not that strict compared to US especially those country that show support and acceptance to crypto. Australia is one of the country that is on normal status in terms of crypto acceptance.

I think they may got this application approved since the hype is already there which makes country may have interest on crypto ETF as way to introduce crypto to its citizen safely and in a more regulated manner.

With various financial institutes applying for the ETF, I think we have amazing days ahead in the future as many countries and regulatory bodies will finally accept the fate of Bitcoin ETF.

Honestly, I don't know that company until the news give them the highlight and joins the bandwagon for the application for a Bitcoin ETF. This gives win-win situation both for Bitcoin and for them if ever they get an approval. But as long as it remains to be an application, there's no celebration yet but we do see that many companies are starting to get interested onto these Bitcoin ETFs. I think they do understand that it is because they're still ahead of the game compared to the other markets that they've been in.

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With various financial institutes applying for the ETF, I think we have amazing days ahead in the future as many countries and regulatory bodies will finally accept the fate of Bitcoin ETF.

That's a good news for BTC. No doubt such steps are not in favor of the decentralization of BTC blockchain for which it was mainly developed but still, such steps are necessary. To migrate the interest of investors and market spectators towards cryptocurrency too. Because most of people are still ignoring crypto and focusing on Stocks, forex, etc.

I think everyone is on the bandwagon today. But I think it's better if we will get a approval from the US SEC itself because it's going to be huge.

And if I'm not mistaken, there are also countries that might have approved bitcoin ETF (I might be wrong though), but all eyes are still in the US SEC. And now that Ripple labs have won their case against SEC maybe sooner or later SEC might bent and give way to crypto with a Spot Bitcoin ETF approval.

I think everyone is on the bandwagon today. But I think it's better if we will get a approval from the US SEC itself because it's going to be huge.

And if I'm not mistaken, there are also countries that might have approved bitcoin ETF (I might be wrong though), but all eyes are still in the US SEC. And now that Ripple labs have won their case against SEC maybe sooner or later SEC might bent and give way to crypto with a Spot Bitcoin ETF approval.

“Through a Bitcoin ETF, it makes it possible for them to buy and use the asset class in however they see fit with the investment choices [and] in a regulated manner, and also operating within the regular regulatory perimeter.”

Australian-based crypto investment firm Monochrome Asset Management has updated its application to offer a spot Bitcoin  BTC $31,226 exchange-traded fund (ETF) on the Australian Securities Exchange (ASX) through its partner Vasco Trustees.
The ETF — Monochrome Bitcoin ETF — will be able to offer retail Australian investors direct exposure to Bitcoin and Ether (ETH), according to the firm’s July 14 announcement.

Speaking to Cointelegraph, Monochrome CEO Jeff Yew explained that by obtaining a license, Australian retail investors would be exposed to Bitcoin within a formidable regulatory landscape:
“So that is the benefit, I guess, compared to, say, unregulated exchanges where there’s no investor protection,” he added.

Yew believes that if a Bitcoin ETF goes live on ASX, it will send a “clear signal” to traditional investors that the “unregulated Wild West is coming to an end” because their investments will be backed by a “familiar,” “structured” and “protected environment.”

Vasco, its “Responsible Entity Partner,” is authorized under an Australian Financial Services Licence to offer retail investors regulated exposure to the cryptocurrency market, the firm stated.

Spot Bitcoin ETF applications have been a focus point for the industry lately, particularly in the United States. In recent weeks, the industry has seen spot Bitcoin ETF filings from major financial firms, including Fidelity, Invesco, Wisdom Tree, Valkyrie and the $10 trillion asset management firm BlackRock.