Yeah great news for such investors, it could also be good for the price of BTC if there is a good amount in inflows, but then not so good news for self custody.
It is not about the fees, some investors do not want to learn how to store their keys safely, so it is understandable if they choose to own BTC through spot etf's. However, the recommended way to store BTC is in your self custody, because you ought to be your own bank.

Australia is another country that approves Bitcoin Spot ETFs but they are not the last one, there will be more countries to do the same decision making changes for Bitcoin Spot ETFs. It will become a new big trend globally and it's good for Bitcoin adoption.

In middle of February 2024, US Captures 83% of Spot Bitcoin ETF Market, Overtaking Canada but about three months passed and Coingecko will need to update their blog article on Bitcoin Spot ETFs.

After the US ETF, the impact of this news is very limited to the point that it may not make a difference in the price because most of the liquidity is in the American markets.


The only advantage of an ETF is that you deal with cryptocurrencies as an investment and therefore you do not fear losing your currencies or regulatory compliance. You may also pay less taxes, so it is an attractive option for investors and not for those who want to use Bitcoin as a payment and investment gateway.

That's true in regards to immediate effects, but I think long term what it does is to further solidifying Bitcoin's potential bottom price level as more ETFs in different places of the world means more access to Bitcoin for more people. It is a derivative product, but if the ETF provider is supposed to hold the Bitcoin in reserve to back up any claims tied to the ETF, it means less circulating Bitcoin on a global level. But as you said, it's not like Bitcoin jumps 10% because Australia launches an Bitcoin ETF product.

Regarding fees, I admit that I have never owned an ETF. I guess investors would incur a "fee per purchase" or do they also incur annual fees for management and administration?


I think you mentioned the two most important aspects here. Some Bitcoin owners don't want to deal with safe Bitcoin storage and regulatory compliance might be quite an important reason. Some interesting statistics would be about the actual ETF buyers. I don't think that it's a lot of normal people, smaller investors. They are probably more inclined to buy Bitcoin on an exchange themselves. I would speculate that the majority of ETF customers are institutional investors. I could be wrong though, but I assume nobody has any significant insights yet.

Good news for Ausies who usually invests in ETF's and now they are able to invest in Bitcoin ETF so this is nice move for Monochrome and I know one day this will become bigger in there since a lot of investors are I think interested on it just like in the US and in HongKong. ETF's are I think where the trust is built between investors and an asset so since Bitcoin has huge potential more and more will come and join the trend.

Thats it, institutional investors make a call to their asset manager, they are not interested
in buying a hardware wallet, transferring FIAT to an exchange after going through
the hassle of KYC/AML, transferring Bitcoin to the wallet etc.

They view a Spot Bitcoin ETF the same as Gold, they dont physically have ownership
of the Gold or any other asset they invest in.

In big business, Time is money.

So This is great news for Australian investors, it opens up exposure to Bitcoin which is
more and more seen as a very viable investment option for any portfolio.

I wonder if this is the reason the Bitcoin market is in the Green today?

To me bitcoin is still bitcoin so even if it is ETF that is being opened in different continents, I still consider it as a win. This just shows how the adoption of bitcoin is going worldwide and we are only starting. There’s more to come.
Unfortunately that is quite literally the point. Some people feel more unsafe about holding their own coins. They also do not want the overly “complicated” process of creating a wallet and storing the coins in there.

I am afraid that some people are just not yet ready for a decentralized world.

More spot BTC ETFs will have a positive effect on the price, but people who invest in BTC in this way are not interested in anything other than profit. So although most people are delighted when they read such news, few wonder what will happen to the price when all these investors start selling BTC?

I don't even want to go into some other negative aspects such as possible hacks or forks, everyone should know that all these companies have never been and will never be interested in Bitcoin in the sense of what it was created for. The old saying goes "be careful what you wish for, because it might happen to you".

Show me one Aussie who has always wanted Bitcoin but didn't already go out and get his own, sitting on the sidelines patiently for a spot ETF to get into it, and I'll show you... big corporations looking for ways to optimise tax.

I know I shouldn't be such a party-pooper about Bitcoin ETFs but really, I still sort of don't see the point for the yous and mes. Like Lucius says: we're happy when they're all falling over each other to buy, can we be as happy when they rush to sell?