Moomoo Down Under wrote a post · Jun 4, 2024 14:04

Is the new Australian Bitcoin Spot ETF available to retail investors?

The most recent advancement for trading Bitcoin in Australia is live today. The new Monochrome Bitcoin Spot ETF has made waves as it allows investors to hold direct holdings in Bitcoin, all while being in Australian currency.

However, if you have recently tried to trade this new ETF on a CBOE suitable broker, you might have noticed it's not as easy to get your hands on as other Bitcoin holdings.

While quotes for $Monochrome Bitcoin ETF (IBTC.AU)$ are available to see on trading apps, like moomoo, this ETF is not available to trade through execution only broker services.

When deep diving into Monochrome's Target Market Determination document, it outlines that retail investors will need to submit an application and be assessed as to whether they are the right investor for this ETF.

Source: Monochrome IBTC Target Determination

This may be due to the risk levels of this investment, since it offers direct holdings to Bitcoin compared to US listed ETFs which offer indirect holdings, or around Australian investing policies.

Stay tuned to see if there are an investor access updated for this ETF.

Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more

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Tenbeersthanks : Hmm interesting. In that case why not just buy Bitcoin yourself. There’s really no need to go through Monochrome.

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