{"id":485661,"date":"2022-08-18T08:59:56","date_gmt":"2022-08-18T05:59:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\/"},"modified":"2022-08-18T08:59:56","modified_gmt":"2022-08-18T05:59:56","slug":"aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\/","title":{"rendered":"# Aussie asset manager to offer crypto ETF using unique license variation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a296fe1601b5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a296fe1601b5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\/#%E2%80%9D_Aussie_asset_manager_to_offer_crypto_ETF_using_unique_license_variation_%E2%80%9C\" >&#8221; Aussie asset manager to offer crypto ETF using unique license variation &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\/#A_first_for_a_crypto_ETF\" >A first for a crypto ETF<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\/#Road_to_approval\" >Road to approval<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Aussie_asset_manager_to_offer_crypto_ETF_using_unique_license_variation_%E2%80%9C\"><\/span>&#8221; Aussie asset manager to offer crypto ETF using unique license variation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMDY0OWFmMTEtOTg5Yi00MGYwLTk3Y2QtNGRkODc0NGMyYzk5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>Australian asset manager Monochrome Asset Management has landed the country\u2019s first Australian financial services license (AFSL) for a spot crypto exchange-traded fund (ETF).\u00a0<\/p>\n<p>Speaking to Cointelegraph, Jeff Yew, CEO of Monochrome Asset Management, said the AFSL <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval is significant, as until this point, approved crypto ETFs in Australia only operate under <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> financial asset authorization and only indirectly hold crypto-assets. <\/p>\n<p>Yew noted that Monochrome\u2019s crypto ETFs, on the other hand, will directly hold the underlying crypto-assets and is specifically authorized by the Australian Securities &amp; Investments Commission (ASIC) to do so.<\/p>\n<p>The Monochrome executive said the approval represents a significant step forward for both the advice industry and retail investors:<\/p>\n<blockquote><p>\u201cWe see choice being a good thing for investors, particularly when dealing in the regulated space, as not all offerings are equal.\u201d<\/p><\/blockquote>\n<p>\u201dInvestors investing in Monochrome\u2019s ETFs will know that their funds are investing directly in Bitcoin (BTC) and Ethereu (ETH), and importantly within the regulatory rails established by ASIC specifically for crypto-assets,\u201d he said. <\/p>\n<p>At this stage, there is no firm date when the Monochrome Bitcoin ETF (IBTC) will be made available, but it\u2019s expected in September 2022, once the PDS and TMD have been issued and subject to regulatory approvals.<\/p>\n<p>When the ETFs are made available, Yew says \u201cMonochrome will focus on\u00a0BTC and ETH because they are the only two crypto-assets currently identified by ASIC as being suitable for retail ETF exposure.\u201d<\/p>\n<p>\u201cOver time, and as the market matures, we will take an open-minded approach to make new products available.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_first_for_a_crypto_ETF\"><\/span>A first for a crypto ETF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Operating under an Australian Financial Services Licence (AFSL) with a direct crypto-asset authorization ensures that the fund and the issuer are subject to robust oversight from ASIC, said Yew.\u00a0<\/p>\n<p>AFSL authorization opens new regulated investment opportunities for direct retail investors and through licensed financial advisers.<\/p>\n<p>Approval of the Australian Financial Services Licence variation means that ASIC has considered and confirmed that the licensee has the relevant experience in crypto-assets to operate ETFs that directly hold Bitcoin and Ethereum.<\/p>\n<p>This gives investors greater protections built around ASIC\u2019s Report 705 such as suitable benchmarking against the spot price and Australian-compliant custody solutions.<\/p>\n<p>Cointelegraph previously reported a warning from Australia\u2019s financial regulator about using unregistered cryptocurrency businesses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Road_to_approval\"><\/span>Road to approval<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Monochrome Asset Management was launched in early 2021 by former Binance Australia CEO Jeff Yew to push for institutional adoption of crypto assets in Australia.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Digital asset manager Monochrome valued at $15M following <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> A<\/em><\/strong><strong><em> <\/em><\/strong><\/p>\n<p>Their ETF plan has been in the works since February 2022. <\/p>\n<p>Generally, the process for a financial services licence variation typically takes six to twelve months, which was the timeline in this case.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/aussie-asset-manager-to-offer-crypto-etf-using-unique-license-variation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Aussie asset manager to offer crypto ETF using unique license variation &#8220; Australian asset manager Monochrome Asset Management has landed the country\u2019s first Australian financial services license (AFSL) for a spot crypto exchange-traded fund (ETF).\u00a0 Speaking to Cointelegraph, Jeff Yew, CEO of Monochrome Asset Management, said the AFSL approval is significant, as until this&#8230;<\/p>\n","protected":false},"author":1,"featured_media":485662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvMDY0OWFmMTEtOTg5Yi00MGYwLTk3Y2QtNGRkODc0NGMyYzk5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,75849,75917,74355,20358,70934],"class_list":["post-485661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-etf","tag-exchanges","tag-adoption","tag-australia","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/485661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=485661"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/485661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/485662"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=485661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=485661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=485661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}