Monochrome drives investor engagement with breakthrough crypto-asset licence variation

Monochrome Asset Management became one of the first Australian asset managers to be authorised under an Australian financial services licence to offer retail investors fully regulated and direct insured exposure to crypto-assets, such as bitcoin and ether.

Monochrome Asset Management have announced that its Responsible Entity partner, Vasco Trustees, has received ASIC approval to operate spot-based crypto-asset exchange traded funds (ETFs) headlined by the Monochrome Bitcoin ETF (ticker code: IBTC).

To date, no crypto asset ETFs operate under an AFSL with a crypto-asset authorisation. ASIC’s decision to provide this AFSL authorisation opens new regulated investment opportunities for direct retail investors and through licensed financial advisers.

Monochrome CEO Jeff Yew said, “The regulator’s approval of this licence variation represents a major step forward for both the advice industry and retail investors, allowing advisers to meet the market demands of their clients when it comes to the nascent crypto-asset class.”

“Providing these regulated and more secure rails means investors have a much higher degree of regulation when seeking this type of exposure, with both industry and investors emerging as winners.”