Oh, what a day in the cryptosphere! 🌟Monochrome Group, the down-under crypto wizards, have cast their spell over Southeast Asia, specifically targeting the mystical land of Singapore. 🦁 They’ve registered their BitcoinBTC$95 279and EthereumETH$2 556 ETFs with the Monetary Authority of Singapore (MAS), signaling a strategic assault on the region’s insatiable appetite for regulated crypto treats.
Monochrome’s Bitcoin ETF (IBTC) and Ethereum ETF (IETH) will now dance with accredited and institutional investors in Singapore, but only if they can afford the hefty S$200,000 (~$146,200) entrance fee. 💰 It’s like the VIP section of the crypto club, where only the elite get to mingle with the digital gods.
As part of its master plan, Monochrome has teamed up with Anadara Capital, adding another feather to its institutional services cap. The company has also enlisted BitGo Trust Company to safeguard the riches of both crypto funds. It’s like hiring a dragon to guard your treasure, ensuring no thief dares to steal the crypto gold. 🐉
ETFs: The Gateway to Crypto Nirvana
Monochrome has been paving the way for cryptocurrencies to infiltrate the mainstream finance fortress through regulated ETFs. Their IBTC, Australia’s first ETF to hold Bitcoin directly, was launched in June 2024, boasting a cool $51.6 million in total net assets. Meanwhile, their Ether ETF IETH, debuted in October 2024, holds $2.28 million in total net assets. It’s like the crypto version of Willy Wonka’s golden tickets, granting access to the chocolate factory of digital wealth.
In the midst of the recent crypto market rollercoaster ride, Monochrome’s CEO Jeff Yew remains unfazed. He sees beyond the short-term chaos, focusing on building a crypto infrastructure that will stand the test of time. His message to the world: “We’re not here to chase fleeting price movements; we’re here to build a foundation that will support institutions, investors, and even governments in their quest for Bitcoin glory.” 🏆
Regulatory Harmony in the Lion’s Den
Southeast Asia has become a hotbed of crypto activity, with Singapore leading the pack. The city-state has established itself as a global financial hub, with a whopping 24.4% of its population owning cryptocurrencies, leaving the global average of 6.8% in the dust. 🚀
Singapore’s Payment Services Act of 2020 has created a regulatory utopia, making it a beacon for blockchain development. Its tech-savvy citizens, armed with financial literacy, make it a prime target for global crypto firms looking to expand their empires. It’s like a treasure map leading straight to the heart of crypto paradise.
Monochrome’s arrival in Southeast Asia couldn’t be more timely. With market uncertainties fueled by global trade tensions, investors are on the hunt for alternative safe havens. Monochrome’s regulated ETFs offer a beacon of hope, promising transparency and compliance in the digital asset realm. By 2025, the company plans to plant its flag in the region, navigating the treacherous waters of regulatory compliance and institutional engagements. 🚣♂️
Read More
- Brody Jenner Denies Getting Money From Kardashian Family
- Move Over Sydney Sweeney: Ozzy Osbourne’s DNA Is in Limited-Edition Iced Tea Cans
- The Entire Cast Of Pretty Little Liars Hopes For A Reunion Movie
- Justin Bieber ‘Anger Issues’ Confession Explained
- I Know What You Did Last Summer Trailer: Jennifer Love Hewitt Faces the Fisherman
- New God Of War Spin-Off Game Still A Long Way Off, According To Insiders
- Anna Camp Defends Her & GF Jade Whipkey’s 18-Year-Old Age Difference
- How Taylor Swift’s Bodyguard Reacted to Travis Kelce’s Sweet Gesture
- Anupama Parameswaran breaks silence on 4-year hiatus from Malayalam cinema: ‘People have trolled me saying that I can’t act’
- Superman’s James Gunn Confirms Batman’s Debut DCU Project
2025-02-03 12:04