Monochrome Registers Bitcoin and Ethereum ETFs with Singapore’s Monetary Authority

Monochrome Group, an Australian crypto-asset management firm, has registered its Bitcoin and Ethereum exchange-traded funds (ETFs) with Singapore's Monetary Authority (MAS), targeting the Southeast Asian market. This effort aims to address the increasing demand for regulated crypto products.

Bitcoin ETF (IBTC) and Ethereum ETF (IETH) are now available to accredited and institutional investors in Singapore.
Minimum transaction requirement is S$200,000 (approximately $146,200).
Monochrome partnered with Anadara Capital for institutional services and BitGo Trust Company for custody solutions.

Monochrome’s ETF Products

IBTC launched in June 2024, holding approximately $51.6 million in total net assets.
IETH debuted in October 2024, with total net assets of $2.28 million.

CEO Jeff Yew emphasized a focus on long-term infrastructure over short-term speculation. He noted that recent market fluctuations have no impact on the underlying supply or protocol rigidity.

A Booming Market Meets Regulatory Clarity

Southeast Asia is experiencing rapid crypto adoption, with Singapore leading at a 24.4% digital asset ownership rate among citizens.
The Payment Services Act of 2020 has provided regulatory clarity, encouraging blockchain development.
Monochrome aims to capture demand for compliant digital asset products amidst market uncertainties and plans to establish regional offices by 2025.