Monochrome Expands Crypto-asset Custody Solutions with Addition of BitGo for IBTC and IETH

SYDNEY, 2 December, 2024 – Monochrome Asset Management is pleased to announce that it has expanded its custody solution by onboarding BitGo Trust Company, Inc (BitGo Trust) to its list of crypto-asset custodians for the Monochrome Bitcoin ETF (IBTC) and Monochrome Ethereum ETF (IETH). This partnership aligns with Monochrome’s strategic growth initiatives across the Asia-Pacific (APAC) region and establishing IBTC and IETH as the first Australian crypto-asset ETFs with dual custodians.

“We’re delighted that Monochrome has selected BitGo to become its custody partner. This partnership is a reflection of our shared ethos in enabling access to digital assets through institutional grade custodial solutions. Monochrome is a trailblazer in the APAC region with the launch of its ETFs - prioritising and ensuring compliance with BitGo’s track record is testament to our standing as the go-to professional custodian in Australia and the wider APAC region, having served the industry for over a decade now,” said Abel Seow, BitGo’s Head of APAC.

BitGo, a global leader in digital asset custody, joins Monochrome’s crypto-asset custodian, Gemini, with both operating to Australian regulatory standards for custodians.

“With the growing importance of digital asset investment in a regulated environment, adding BitGo as a crypto-asset custodian reinforces the robustness of our offering for our investors. Our focus is on providing a seamless experience for investors while adhering to the highest standards of compliance,” said Monochrome COO, Bridget Nichols. “This is a proactive step in positioning Monochrome as a leader in digital asset ETFs, particularly as we look to expand into the APAC region.”

With a history of working with institutional-grade digital asset products, BitGo brings deep expertise to Monochrome’s suite of investment products. The inclusion of BitGo Trust emphasises Monochrome’s dedication to maintaining best-in-class infrastructure for digital assets.

For more information about the Monochrome Bitcoin ETF (IBTC), please visit ibtc.au

For more information about the Monochrome Ethereum ETF (IETH), please visit ieth.au

About BitGo

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, trading, financing and settlement out of regulated cold storage. Founded in 2013, BitGo is the first digital asset company to focus exclusively on serving institutional clients. BitGo also secures approximately 20% of all on-chain Bitcoin transactions by value and is the largest independent digital asset custodian in the world. For more information, please visit www.bitgo.com.

About Monochrome

Monochrome Asset Management is the investment manager for the Monochrome Bitcoin ETF (IBTC) and the Monochrome Ethereum ETF (IETH). Monochrome bridges the gap between unregulated crypto-asset markets and traditional markets through familiar regulated product structures that provide the protection and frameworks investors need when accessing this emerging asset class.