Monochrome has registered its Bitcoin and Ethereum ETFs in Singapore, targeting accredited investors, and aims to expand regionally by 2025.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Monochrome Group, an Australian crypto-asset management firm, has taken a bold step toward Southeast Asian market expansion by registering its Bitcoin BTC $83 658 24h volatility: 1.8% Market cap: $1.66 T Vol. 24h: $28.40 B and Ethereum ETH $1 878 24h volatility: 1.6% Market cap: $226.63 B Vol. 24h: $15.46 B exchange-traded funds (ETFs) with Singapore’s Monetary Authority (MAS). This move signals a strategic push to meet the region’s rising demand for regulated crypto products amid evolving market dynamics.
The registration as restricted schemes enables Monochrome’s Bitcoin ETF (IBTC) and Ethereum ETF (IETH) to be accessible to accredited and institutional investors in Singapore. Transactions must meet a minimum requirement of S$200,000 (equivalent to $146,200), as per the announcement.
As part of its expansion strategy, Monochrome has partnered with Anadara Capital to bolster its institutional services. The company has also onboarded BitGo Trust Company to provide custody solutions for both crypto funds.
Notably, Monochrome has made major strides in integrating cryptocurrencies into mainstream finance through regulated ETFs. It launched IBTC, Australia’s first ETF that holds Bitcoin directly, in June 2024. As of writing, the ETF held around $51.6 million in total net assets. On the other hand, its Ether ETF IETH, launched in October 2024, holds $2.28 million in total net assets.
Monochrome’s CEO Jeff Yew commented on the recent crypto market turbulence that led to a 7% drop in Bitcoin price and over $2 billion in crypto liquidations. He stated that his company focuses on long-term infrastructure building rather than short-term market speculation. He explains:
“It’s not about chasing price moves – it’s about building real infrastructure and giving institutions, investors, and even governments better access to Bitcoin.”
According to Yew, the ongoing market movements would have “no cause or impact to the underlying supply or protocol rigidity.”
Southeast Asia has witnessed rapid crypto adoption in recent years, with Singapore leading the charge, solidifying its reputation as a global financial hub. The country stands out with one of the world’s highest digital asset ownership rates – 24.4% of its citizens reportedly hold cryptocurrencies, far surpassing the global average of 6.8%.
Singapore implemented the Payment Services Act in 2020, which has fostered an environment of regulatory clarity. A report by Chainalysis highlights the region as fertile ground for blockchain development as its citizens are financially literate and tech-savvy. This makes it an attractive destination for global crypto firms.
Monochrome’s entry into Southeast Asia comes at a time when market uncertainties, exacerbated by global trade tensions, have prompted investors to seek alternative hedging solutions. With regulated ETFs like IBTC and IETH, the company aims to capture the rising demand for compliant, transparent digital asset products. Looking ahead, it plans to establish regional offices by 2025 as it navigates regulatory compliance and institutional engagements.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
