Announcement: IBTC Bitcoin Interest Consolidation

BRISBANE, 5 March, 2024 – Monochrome Asset Management will be consolidating Bitcoin Interests in the Monochrome Bitcoin Trust (the Fund) on 02 April 2024 on a one-for-four basis.

This consolidation marks an important step forward as the firm prepares the Fund (which will be known as the Monochrome Bitcoin ETF (IBTC)) for quotation on the Australian Securities Exchange (ASX), which requires a minimum admission price of AUD$20 for traded lots, ensuring tighter spreads when trading. Further details are available in the letter sent to investors.

Once approved by the ASX, the Fund will operate as a 'dual-access' fund, allowing investors to transact both directly through the Automic registry portal and via standard broking channels on the ASX.

Pending the ASX’s approval for quotation, Monochrome is committed to keeping you informed every step of the way. Your continued support and interest in the Monochrome Bitcoin Trust (IBTC) are invaluable to us.

For any inquiries, please contact Monochrome at investor-services@monochrome.co.

Subject to regulatory approvals, the Monochrome Bitcoin ETF will be a registered managed investment scheme. The Monochrome Bitcoin ETF is proposed for launch in Q2, 2024. Monochrome Asset Management Pty Ltd ABN 80 647 701 246 will be the Investment Manager for the Monochrome Bitcoin ETF and is a Corporate Authorised Representative of Vasco Trustees Ltd ABN 71 138 715 009 | AFSL 344486. Vasco Trustees Limited will be the Responsible Entity for the Monochrome Bitcoin ETF and the issuer of its Product Disclosure Statement (PDS) and Target Market Determination (TMD). Interests in the Monochrome Bitcoin ETF are not currently available for subscription and the PDS and TMD will be made available at https://monochrome.au prior to the commencement of trading. Investors should consider the PDS and TMD in deciding whether to invest in the Monochrome Bitcoin ETF. This information is general in nature and is not financial advice. It does not take into account any person’s individual objectives, financial situation or needs. Before making an investment decision investors should read the PDS and TMD, and with the assistance of a financial adviser, consider if the investment is appropriate for their circumstances.