Summary
- Monochrome announced that it has registered Bitcoin and Ethereum exchange-traded funds (ETFs) in Singapore.
- These ETFs are accessible only to institutional investors and can be traded for over 200,000 Singapore dollars.
- Jeff Yew, CEO of Monochrome, stated that they are focusing on the long-term fundamentals and expanding accessibility of Bitcoin.
Australian cryptocurrency asset manager Monochrome is launching spot-based Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in Singapore.
According to Decryption on the 3rd, Monochrome recently registered Bitcoin and Ethereum ETFs with the Monetary Authority of Singapore (MAS). Monochrome's ETFs are registered as 'restricted schemes.' Only institutional investors who can trade over 200,000 Singapore dollars (approximately 210 million KRW) can invest in Monochrome ETFs.
Jeff Yew, CEO of Monochrome, emphasized, "We are not simply chasing price volatility." He stated, "The goal of Monochrome ETFs is to help institutions, investors, and even governments easily access Bitcoin."
Regarding the sharp decline in virtual asset prices triggered by the 'tariff war' initiated by Trump, he said, "Institutional investors are not swayed by short-term volatility." He added, "Bitcoin is an asset that has been tempered through various macroeconomic cycles," and "We are focusing on the long-term fundamentals and expanding accessibility of Bitcoin."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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