Monochrome registered its Bitcoin and Ethereum ETFs with Singapore’s MAS.
The ETFs are available to accredited and institutional investors, with a minimum transaction requirement of S$200,000.
Monochrome plans to open regional offices by 2025 to expand its presence in Southeast Asia.
Monochrome Group, an Australian crypto-asset management firm, has taken a bold step toward Southeast Asian market expansion by registering its Bitcoin and Ethereum 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.
Monochrome’s ETF Products
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 around $51.6 million in total net assets. On the other hand, its Ether ETF IETH, in October 2024, $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 :
“It’s not about chasing price moves – it’s about building real infrastructure and giving institutions, investors, and even governments better access to Bitcoin.”
“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.”
A Booming Market Meets Regulatory Clarity
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.