Monochrome Asset Management is pleased to announce that it has expanded its custody solution by onboarding BitGo Trust Company, Inc to its list of crypto-asset custodians for the Monochrome Bitcoin ETF (IBTC) and Monochrome Ethereum ETF (IETH).
This partnership reportedly aligns with Monochrome’s growth initiatives across the Asia-Pacific region and establishing IBTC and IETH as the “first Australian crypto-asset ETFs with dual custodians.”
Abel Seow, BitGo’s Head of APAC said that this partnership is a reflection of our shared ethos in enabling “access to digital assets through institutional grade custodial solutions.” Seow added that Monochrome is a key player in the APAC region “with the launch of its ETFs – prioritizing and ensuring compliance with BitGo’s track record is testament to their standing as the go-to professional custodian in Australia and the wider APAC region, having served the industry for over a decade now,”
BitGo, a global firm focused on digital asset custody, joins Monochrome’s crypto-asset custodian, Gemini, with both operating to Australian regulatory standards for custodians.
Monochrome COO, Bridget Nichols said that 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.” They added that their focus is “on providing a seamless experience for investors while adhering to the highest standards of compliance.”
Nichols also noted that this is a proactive step in “positioning Monochrome as a [key player focused on] digital asset ETFs, particularly as we look to expand into the APAC region.”
With a history of working with digital asset products, BitGo brings expertise to Monochrome’s investment products.
The inclusion of BitGo Trust emphasizes Monochrome’s “dedication to maintaining best-in-class infrastructure for digital assets.”
As covered, BitGo is the 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 digital asset company focused on serving institutional clients.
BitGo claims that it currently secures approximately 20% of all on-chain Bitcoin transactions “by value” and is the independent digital asset custodian in the world.
As noted in the update, Monochrome Asset Management is the investment manager for the Monochrome Bitcoin ETF (IBTC) and the Monochrome Ethereum ETF (IETH).
Monochrome reportedly bridges the gap between “unregulated” crypto-asset markets and traditional markets through regulated product structures that provide the protection and frameworks investors “need when accessing this emerging asset class.”
