FalconX and Monochrome Expand ETF Liquidity in Australia for the Monochrome Bitcoin ETF (Ticker: IBTC)


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SYDNEY, 18 June, 2024 – Monochrome is pleased to announce our partnership with FalconX, a leading institutional digital asset prime broker, to support the launch of the Monochrome Bitcoin ETF (Ticker: IBTC). IBTC is the first ETF in Australia to hold bitcoin directly, which was quoted on Cboe Australia earlier this month on 4 June 2024.

The Monochrome Bitcoin ETF (IBTC) is the first and only ETF in Australia authorised under a crypto-asset licensing category under the Australian Financial Services Licensing (AFSL) regime.

FalconX’s expertise in providing liquidity services for digital asset ETF issuers globally has supported this launch. FalconX has a proven track record, successfully facilitating over 30% of total BTC creation purchases for ETF sponsors in the U.S. during their inaugural trading day in January 2024. Additionally, FalconX provided liquidity for Virtual Asset Trading platforms in Hong Kong following regulatory approval earlier this year.

"We are proud to announce the launch of Australia’s first spot Bitcoin ETF that holds bitcoin directly, an exciting milestone for Monochrome as we continue our goal of providing investors with secure, transparent, and efficient access to Bitcoin through traditional vehicles,” said Jeff Yew, CEO of Monochrome. “We are pleased to partner with FalconX to access the firm’s crypto native and institutional liquidity which is critical to the trading and pricing stability of IBTC.”

FalconX is expanding in the APAC region to meet growing demand for digital asset-based ETFs. “We’re delighted to be assisting the Monochrome team and given the significant retail and institutional adoption of ETFs in Australia, we believe that there is potential for a thriving digital asset spot ETF market,” said Nello Cafcules, Head of ETF Business Development at FalconX. “As the regulatory landscape evolves, we look forward to providing our full suite of institutional services to help develop the digital asset ETF ecosystem in Australia.”

FalconX launched its APAC business in Singapore in 2022 and expanded into Hong Kong in February 2024. “Providing our brokerage services to Australian institutional investors is part of our strategy to provide quality digital asset liquidity to APAC institutional and professional investors,” said Matt Long, APAC General Manager at FalconX. “As the Australian regulatory landscape evolves, demand for exposure to digital assets by institutions including superannuation funds is bound to grow.”

About FalconX

FalconX is a leading digital assets prime brokerage for the world's top institutions and the first CFTC-registered cryptocurrency swap dealer. The firm provides the most comprehensive access to global digital asset liquidity, with a 24/7 dedicated team for account, operational, and trading needs. FalconX is backed by notable investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management, and Wellington Management. FalconX has offices in Silicon Valley, New York, London, Hong Kong, Bengaluru, Singapore, and Valletta. For more information, visit falconx.io or follow FalconX on X and LinkedIn.

About Monochrome

Monochrome Asset Management is a leading asset management firm specialising in digital assets. The firm is committed to providing innovative investment solutions that meet the highest standards of security and regulatory compliance. For more information about the Monochrome Bitcoin ETF (IBTC), visit ibtc.au.

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