Australia’s First Investment-Grade Bitcoin Fund Welcomes Craig Hobart as Head of Distribution

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BRISBANE, Monday July 26 2021 -- Following the launch of the Monochrome Bitcoin Fund, Monochrome Asset Management, the Brisbane-based digital asset management firm founded by former Binance Australia CEO Jeff Yew, today announced the appointment of Craig Hobart, joining the team as Head of Distribution.

Mr Hobart holds over 25 years of leadership experience across financial services, funds management, and superannuation including BT, Nikko Asset Management, and Rest Super. Craig joins Monochrome with a wealth of knowledge and experience to help create distribution and growth strategies for its products, such as the Monochrome Bitcoin Fund.

“With his extensive experience in funds management, Craig will oversee the company’s distribution strategies.” Mr Yew said.

Monochrome Asset Management is the Investment Manager of the Monochrome Bitcoin Fund, a capital growth investment fund for Australian wholesale investors seeking a secure, regulated, and familiar investment vehicle that tracks the price of bitcoin without the need to engage with new technologies.

With digital assets increasingly becoming an accepted part of the financial landscape, institutions are realising that they must adopt this asset-class, either as an investment or as a hedge against the broader macroeconomic environment. Despite this increase in adoption, still predominantly by US companies at present, various challenges remain for Australian institutional investors around regulatory clarity, strict acquisition procedures, and custody which Monochrome Asset Management addresses and resolves with the launch of the Monochrome Bitcoin Fund.

“With years of experience in driving growth strategies in traditional financial organisations, I am excited to join Jeff and his team to facilitate the growing institutional adoption of Bitcoin, starting with the Monochrome Bitcoin Fund.” Mr Hobart said.

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