- Monochrome Group bags Bitcoin and Ethereum ETFs registration with Singapore’s MAS.
- The ETFs cater to accredited investors with a minimum transaction of $200,000.
- Despite recent crypto market volatility, Monochrome is expanding into Southeast Asia.
Australian crypto firm Monochrome Group has secured registration for its Bitcoin (IBTC) and Ethereum (IETH) ETFs with Singapore’s Monetary Authority. CEO Jeff Yew emphasized the strategic timing of the expansion, noting it coincides with heightened institutional interest in regulated digital asset products.
“It’s not about chasing price moves—it’s about building real infrastructure and giving institutions, investors, and even governments better access to Bitcoin,” Yew stated, addressing recent market volatility. The ETFs are structured as restricted schemes, catering to accredited and institutional investors with a minimum transaction requirement of $200,000. Both products offer flexibility in subscriptions and redemptions, accepting both Bitcoin and cash deposits to accommodate diverse institutional needs.
To strengthen its institutional service offerings, Monochrome has partnered with Anadara Capital and enlisted BitGo Trust Company for custody services. These partnerships aim to address security concerns common among institutional investors while establishing robust infrastructure for the ETF products.
The expansion follows Monochrome’s efforts to launch Australia’s first spot Ethereum ETF on Cboe in October 2024. The firm plans to establish regional offices throughout 2025, focusing on regulatory compliance and institutional engagement in the Southeast Asian market.
Related: Bitcoin and Altcoins Crush Led to $2.23B Crypto Liquidation
The timing of these registrations is notable, coming amid broader market instability. Recent cryptocurrency market turbulence has resulted in a 7.5% drop in total market capitalization over 24 hours, according to CoinMarketCap data. Bitcoin has slumped to the $95,000 level while Ethereum fell as low as $2,500 amidst the overall market bloodbath.
Despite this volatility, institutional interest in regulated crypto products remains strong, with many viewing them as potential hedges against geopolitical and macroeconomic uncertainties. Monochrome’s strategic expansion into Singapore positions the firm to capitalize on growing institutional demand for regulated digital asset products in Southeast Asia. The move aligns with Singapore’s rise as a key hub for regulated cryptocurrency activities.
