A company called Monochrome, which deals with managing assets, has applied to CBOE Australia, a global exchange where stocks are listed, to create a Bitcoin exchange traded fund (ETF).

While Australia has seen ETFs related to cryptocurrencies before, this would be the first one directly linked to Bitcoin. Monochrome chose CBOE Australia because of its strong reputation in the Asia Pacific area and other regions, as well as its accessibility to investors.

The CEO of Monochrome Asset Management, Jeff Yew, is very positive about collaborating with CBOE Australia. He mentioned, "As leaders in digital assets worldwide, their proven history and focus on innovation and providing a safe market align well with Monochrome's goals."

Monochrome has already received the necessary approval from the Australian Securities and Investments Commission (ASIC). Now, they are waiting for CBOE's decision, which is anticipated by the end of this quarter.

If the outcome is favorable, Monochrome's Bitcoin ETF will be a significant achievement in Australia's financial sector. This ETF offers a fresh approach to investing in Bitcoin, appealing to a wider range of investors interested in cryptocurrencies.