• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, February 3, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Monochrome To Launch Spot Bitcoin ETF In Australia – Bitcoin Magazine

August 17, 2022
in Bitcoin
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Related articles

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March  – Technology Bitcoin News

February 2, 2023

Bitcoin, S&P 500 almost hit golden cross as bullish trend grows

February 2, 2023

  • Monochrome is eyeing a spot bitcoin ETF in Australia, adding to an already crowded market in the country.
  • The fund’s partner has received unique regulatory approval to offer direct exposure to bitcoin.
  • The U.S. continues to lag behind in the spot bitcoin ETF ecosystem.

Monochrome Bitcoin Fund will release another spot bitcoin exchange-traded fund (ETF) in Australia with a unique form of regulatory approval, per a report by the Financial Standard.

The bitcoin-focused asset manager’s responsible entity and custodial partner, Vasco Trustees, received licensure on Tuesday to operate spot crypto-based ETFs. Additionally, Vasco has also received accreditation from the Australian Financial Services (AFS) through the Australian Securities and Investments Commission (ASIC), giving the fund crypto-asset authorization.

Vasco’s approval through the AFS gives investors more transparent expectations of a spot ETF by requiring segregated on-chain assets, as to not intermingle with assets on Monochrome’s balance sheet. In addition, per AFS guidelines, private key storage for bitcoin is to be stored “in a way that minimizes the risk of loss and unauthorized access.”

AFS guidelines also suggest asset managers do not use hot wallets, or wallets connected to the internet. Instead, the regulator states asset managers should opt to use cold storage, or devices with limited connectivity to the internet. Furthermore, AFS licensure states that investors should “have access to an appropriate compensation system” in the event of a loss of private keys.

“The regulator’s approval of this license 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,” said Monochrome’s CEO, Jeff Yew, per the Financial Standard report.

Monochrome is one of the first asset managers in the country to receive this crypto-authorization from the AFS, the company wrote in a blog post.

Meanwhile, the U.S. continues to be a laggard in the ETF ecosystem. Not only have regulators not approved spot bitcoin ETFs, but some asset managers are resorting to outright litigation against the U.S. Securities and Exchange Commission (SEC) to gain any progress.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Shiba Inu (SHIB) Makes Tremendous Gains From June 2022 Lows!

Next Post

Celsius to explore options for refunding customers at UCC meeting

Related Posts

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March  – Technology Bitcoin News

February 2, 2023

The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in...

Bitcoin, S&P 500 almost hit golden cross as bullish trend grows

February 2, 2023

As we enter the second month in Q1 2023, bitcoin investors and Wall Street could have a reason to smile...

CleanSpark Mines Record 697 Bitcoin In January, A 50% Increase Since December

February 2, 2023

The bitcoin mining firm is reaping the rewards of expansion as it had a record month with solid reliability.CleanSpark has...

Indian Retail Chain Enables CBDC Payments In Stores

February 2, 2023

Digital currency is becoming popular as several countries have begun launching their own central bank digital currency (CBDC) while promoting...

BTC Jumps to 6-Month High Above $24,000 – Market Updates Bitcoin News

February 2, 2023

Bitcoin surged above $24,000 on Feb. 02, as markets continued to react to the latest U.S. Federal Reserve policy decision....

Load More
Next Post

Celsius to explore options for refunding customers at UCC meeting

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

How to use margin trading and leverage in crypto trading?

January 20, 2023

Cryptocurrency world continuing to feel effects from collapse of FTX, arrest of founder – KATV

January 9, 2023

Crypto regulations to curb money laundering

January 11, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Kraken closes Abu Dhabi office; Bithumb owner arrested
  • Defiance ETFs to Close NFTZ ETF After Just 13 Months
  • Bitcoin Price Heading Back Towards $24,000 – Did Wednesday’s Liquidity Grab Give It The Boost It Needed?

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$23,541.00-1.60%
  • ethereumEthereum(ETH)$1,642.66-1.58%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.10%
  • binancecoinBNB(BNB)$325.962.18%
  • usd-coinUSD Coin(USDC)$1.000.02%
  • rippleXRP(XRP)$0.411212-1.17%
  • binance-usdBinance USD(BUSD)$1.000.08%
  • cardanoCardano(ADA)$0.400053-0.26%
  • dogecoinDogecoin(DOGE)$0.091267-4.43%
  • matic-networkPolygon(MATIC)$1.19-3.92%
  • okbOKB(OKB)$39.58-1.53%
  • solanaSolana(SOL)$24.23-4.30%
  • staked-etherLido Staked Ether(STETH)$1,639.79-1.26%
  • polkadotPolkadot(DOT)$6.550.59%
  • shiba-inuShiba Inu(SHIB)$0.0000120.83%
  • litecoinLitecoin(LTC)$99.18-1.94%
  • avalanche-2Avalanche(AVAX)$21.10-1.63%
  • tronTRON(TRX)$0.0640240.93%
  • uniswapUniswap(UNI)$7.153.73%
  • daiDai(DAI)$1.000.06%
  • cosmosCosmos Hub(ATOM)$14.51-2.92%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$23,496.00-1.51%
  • chainlinkChainlink(LINK)$7.11-1.96%
  • ToncoinToncoin(TON)$2.37-1.74%
  • leo-tokenLEO Token(LEO)$3.360.39%
  • moneroMonero(XMR)$172.91-2.82%
  • ethereum-classicEthereum Classic(ETC)$22.45-1.76%
  • AptosAptos(APT)$16.93-8.05%
  • bitcoin-cashBitcoin Cash(BCH)$137.150.72%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.091965-0.73%
  • apecoinApeCoin(APE)$5.85-4.20%
  • quant-networkQuant(QNT)$144.22-4.09%
  • nearNEAR Protocol(NEAR)$2.42-1.89%
  • filecoinFilecoin(FIL)$5.46-5.03%
  • crypto-com-chainCronos(CRO)$0.080568-1.34%
  • lido-daoLido DAO(LDO)$2.24-3.36%
  • algorandAlgorand(ALGO)$0.2562890.48%
  • vechainVeChain(VET)$0.024162-3.32%
  • hedera-hashgraphHedera(HBAR)$0.067284-3.18%
  • fantomFantom(FTM)$0.604.75%
  • internet-computerInternet Computer(ICP)$5.77-5.37%
  • decentralandDecentraland(MANA)$0.78-2.85%
  • axie-infinityAxie Infinity(AXS)$11.16-3.27%
  • aaveAave(AAVE)$88.06-2.22%
  • the-sandboxThe Sandbox(SAND)$0.75-3.96%
  • eosEOS(EOS)$1.07-1.44%
  • flowFlow(FLOW)$1.11-3.09%
  • elrond-erd-2MultiversX(EGLD)$44.931.10%