Monochrome Asset Management, an investment firm, will begin trading shares of its Bitcoin exchange-traded fund (IBTC) on Tuesday, June 4. It has already been approved by the Australian Securities and Investments (AFS). Among the newly licensed categories of crypto assets traded on the CBOE’s Australian branch, IBTC will be the pioneering offering based on Bitcoin. In light of the impending launch of spot Ethereum ETFs and the persistently high demand for US spot BTC-ETF units over the last several months, Monochrome Asset Management CEO Jeff Yew anticipates substantial interest in his product. As far as the developers of the Monochrome Bitcoin ETF are concerned, their product is fully compliant with the rules set out by the AFS for 2021. This instrument permits redemption in kind, which distinguishes it from comparable products in the US and Hong Kong. As previously stated by Bloomberg citing sources with knowledge of the matter, the ASX, an Australian stock exchange, is gearing up to launch spot Bitcoin ETFs by the year 2024.