Bitcoin ETF 17M Clients: Monochrome Bitcoin Exchange-Traded Fund (IBTC) has been made available on the Commonwealth Bank of Australia (CBA) trading platform, a significant step forward in the industry. Opportunities to invest in Bitcoin exchange-traded funds have been made available to the bank’s huge customer base of 17 million. CBA’s proactive position in catering to the growing demand for cryptocurrency investments within a regulated framework is highlighted by this step, demonstrating these proactive efforts.
Australian Bitcoin ETF Launch
Monochrome Asset Management is an Australian financial firm that oversees the Monochrome Bitcoin ETF. Beginning at 10:00 am (AEST) on Tuesday, June 4, 2024, CBOE Australia launched the ETF. Investors can have direct exposure to Bitcoin price changes while still meeting regulatory standards with this ETF. So, digital currencies are finally becoming part of the mainstream investment possibilities thanks to the recent CBA listing.
In the cryptocurrency exchange-traded fund (ETF) space, Australia has joined other major global hubs like Hong Kong. The government is using Bitcoin ETFs to attract new investors and keep up with their changing tastes in technology. More evidence of Australia’s dedication to promoting digital asset investments comes from Monochrome’s plan to launch a Spot Bitcoin ETF.
Earlier in April, the regulatory process was begun by Monochrome Asset Management in conjunction with CBOE Australia. Their commitment to becoming the first in the region to offer digital assets is evident in this. Also, Monochrome is showing its faith in the increasing popularity of cryptocurrencies among institutional and ordinary investors by making this strategic move.
A growing number of financial institutions are seeing potential in cryptocurrencies. CBA is the latest to join this trend, as it has decided to list the IBTC Bitcoin ETF 17M Clients on its platform. Banks worldwide increasingly see digital assets as a way to supplement their conventional banking services. So, to meet the ever-changing needs of their customers, they are broadening their product lineup.
Also Read: Spot Bitcoin ETFs Inflow Continues for 8th Day
Brazil Bank Accepts BTC
The largest bank in Brazil and the entire Latin American region, Itau Unibanco, has also been accepted. Bitcoin (BTC) is a parallel movement throughout Latin America. In addition to having more than sixty million customers, the bank also has close to one hundred thousand workers. Itau Unibanco, on the other hand, has just recently announced that it will offer cryptocurrency trading services through its internal investing platform, Ion.
The trading service was initially introduced in December but was only available to a few investors. On the other hand, the cryptocurrency trading service offered by Itau Unibanco has attracted significant attention from customers, leading to its progressive expansion. For this reason, it now provides investments in Bitcoin and Ethereum (ETH) on the site. Guto Antunes, the head of Itau Digital Assets, brought attention to the incredible welcome that the Bitcoin ETF 17M Client custody solution offered by the bank has received. He stressed customers’ high levels of trust and acceptance, which catalysed the most recent change.
Also Read: Bitcoin Receives $2B, But Ethereum Takes the Stage
