Monochrome Group Makes Major Push into Southeast Asian Crypto Market

Monochrome Group, an Australian digital asset investment firm, is significantly expanding its presence in Southeast Asia with new strategic partnerships, regional offices, and the registration of its Bitcoin and Ethereum ETFs with the Monetary Authority of Singapore (MAS).

In a statement on Monday, the company announced a key partnership between its investment services arm, Monochrome Investment Services, and Anadara Capital. This collaboration aims to broaden Monochrome's institutional reach within Southeast Asia and enhance its unique structured product offerings. The specifics of these enhanced offerings were not disclosed in the initial announcement.

Monochrome also revealed plans to establish regional offices in 2025. These offices will play a crucial role in driving institutional engagement and contributing to regulatory initiatives. The company stated its intention to participate in policy discussions surrounding digital asset frameworks, suggesting a proactive approach to shaping the evolving regulatory landscape.

At the same time, Monochrome Asset Management, the group's asset management division, confirmed the registration of both the Monochrome Bitcoin ETF (IBTC) and the Monochrome Ethereum ETF (IETH) with the MAS. This registration marks a first for Australian crypto-asset ETFs and underscores Monochrome's focus on providing institutional-grade investment solutions. The ETFs will be registered as restricted schemes, the company said, likely limiting access to accredited or institutional investors.

Monochrome is headquartered in Sydney, Australia and was founded in 2021 by former Binance Australia co-founder and chief executive Jeff Yew, who is the company's CEO. IBTC, which holds Bitcoin directly, was launched on the Cboe Australia exchange in June 2024, and currently has around $51 million in total net assets and charges a 0.50% management fee.