Australia’s first capital growth fund to offer wholesale investors exposure to Bitcoin has received inquiries from some of the country’s largest wealth groups and a superannuation fund, according to the fund’s founder.
- While retail crypto investment is relatively straightforward, institutional investment in crypto is much more complicated. Brisbane-based Monochrome Asset Management allows regulated investment in the form of a unit trust that can be easily added to portfolios in the same way as real estate or stocks. The minimum investment is AU$50,000.
- Monochrome CEO Jeff Yew told Australian financial news outlet Stockhead that he believes lack of regulated instruments is the reason why institutional adoption in Australia is lagging behind international markets. Yew adds that he hopes Monochrome will help lead Australia toward further adoption of crypto, including introducing the first Bitcoin ETF in Australia.
- In a bid to modernize Australia’s financial sector, the government is currently accepting submissions to a Senate inquiry as to how to best regulate cryptocurrency.
- Brisbane, where Monochrome is headquartered, is the third-largest city in Australia. While lacking the international reputation of Melbourne or Sydney, Brisbane is considered to be the digital asset hub of the country. Binance Australia, Swyftx and Digital Surge cryptocurrency exchanges are all headquartered in Brisbane.