Gemini Has Been Appointed As the Custodian for the Monochrome Bitcoin ETF (Ticker: IBTC)

We are pleased to announce that we’re providing bitcoin custody for a spot bitcoin ETF listed June 4 by Monochrome Asset Management, an Australia-based investment manager that offers access to crypto assets through traditional financial markets.

is the first Australian spot bitcoin ETF to hold bitcoin directly under a specific crypto asset Australian Financial Services License. IBTC gives retail and institutional investors the opportunity to invest in bitcoin, which is held in institutional grade custody offered by Gemini Trust Company, LLC.

IBTC is the first and currently only exchange-traded fund in the Australian market to be authorized under a specific crypto asset licensing category. Prior to IBTC, Australian investors were only able to invest in ETFs that indirectly hold bitcoin or through offshore bitcoin products, both of which do not benefit from the investor protection rules under the directly held crypto asset AFS licensing regime.

IBTC implements a passive buy-and-hold strategy with bitcoin. The fund does not implement leverage, derivatives or short-selling. IBTC also offers in specie redemptions which allows investors to take custody of their bitcoin.

Gemini Supports Crypto ETFs

As a qualified custodian, Gemini meets requirements outlined by the Australian Securities and Investments Commission for being a suitable custody provider for Australian crypto-asset retail product issuers.

We’re excited to continue supporting Monochrome as they expand crypto access through this historic launch.

Onward and Upward!

Team Gemini

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