Monochrome Asset Management's new crypto ETF has landed the country’s first Australian financial services license (AFSL), allowing it to directly hold underlying crypto assets, CEO Jeff Yew tells Cointelegraph.
), and importantly within the regulatory rails established by ASIC specifically for crypto-assets,” he said.
When the ETFs are made available, Yew says “Monochrome will focus on BTC and ETH because they are the only two crypto-assets currently identified by ASIC as being suitable for retail ETF exposure.” AFSL authorization opens new regulated investment opportunities for direct retail investors and through licensed financial advisers.
This gives investors greater protections built around ASIC’s Report 705 such as suitable benchmarking against the spot price and Australian-compliant custody solutions.Road to approval
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