Monochrome CEO Makes the Case for a Bitcoin ETF in Australia at Nation’s First Inside ETFs Conference
SYDNEY, June 30, 2021 -- As major institutions around the world shift their attention towards Bitcoin, Monochrome has emerged to be the torchbearer for institutional-grade digital asset access in the country.
Monochrome Asset Management’s CEO, Jeff Yew, was invited to present the case for a Bitcoin ETF in Australia at the inaugural Inside ETFs Australia conference, held at the ASX Auditorium in Sydney on June 15, 2021.
Australia has traditionally been at the forefront of innovation and regulation of new asset classes. However, there is still work to be done to ensure Australia retains an edge in a global race towards Bitcoin exchange-traded funds (ETFs).
“Holding bitcoin in an ETF is a simple and familiar way for both everyday and institutional investors to access the asset class. With an ETF, you get instant integration with wrap programs, making the consumer experience smoother,” Mr Yew said to Money Management in a recent interview.
“It also shifts the operational and custody risks to professional issuers and managers. This lowers the barrier of entry for consumers of the financial product - making it a smoother investment,” Mr Yew said.
Monochrome’s flagship institutional product, the Monochrome Bitcoin Fund, is an ASIC-regulated wholesale managed investment scheme, serving a market of exclusively wholesale investors with a minimum investment of $50,000.
“At this stage, Monochrome’s client base is made up of family offices and ultra-high-net-worth individuals. A Bitcoin ETF provides a seamless way for a wider range of investors to introduce the asset class into a diversified portfolio,” Mr Yew said.
Bitcoin is now recognised worldwide as an asset class, and Monochrome believes that every Australian investor should have the right to safely gain exposure to digital assets within a diversified portfolio via a conventional and familiar investment vehicle.