FalconX Provides ETF Liquidity Services to Australian Market, Expanding Global Capabilities

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Australia 6th June 2024: FalconX, the leading institutional digital asset prime broker, announced today it has partnered with Monochrome Asset Management to become a liquidity provider for the issuer’s first spot BTC ETF in Australia. The Monochrome Bitcoin ETF was officially quoted on Cboe Australia on Tuesday, 4 June 2024 under the ticker ‘IBTC’.

FalconX is a leading liquidity provider to digital asset ETF issuers globally, successfully executing over 30% of total BTC creation purchases on behalf of ETF sponsors in the US during the inaugural day of trading in January 2024. FalconX also utilised its leading OTC trading capability to provide liquidity for Virtual Asset Trading platforms in Hong Kong following regulatory approval in April this year.

FalconX is expanding in the APAC region to meet growing demand for digital asset-based ETFs. “We’re delighted to be assisting the Monochrome team and given the significant retail and institutional adoption of ETFs in Australia, we believe that there is potential for a thriving digital asset spot ETF market,” said Nello Cafcules, Head of ETF Business Development at FalconX. “As the regulatory landscape evolves, we look forward to providing our full suite of institutional services to help develop the digital asset ETF ecosystem in Australia.”

“We are thrilled to announce the launch of Australia’s first spot Bitcoin ETF that holds Bitcoin directly, an exciting milestone for Monochrome as we continue our goal of providing investors with secure, transparent, and efficient access to Bitcoin through traditional vehicles,” said Jeff Yew, CEO of Monochrome. “We are delighted to partner with FalconX to access the firm’s crypto native and institutional liquidity which is critical to the trading and pricing stability of IBTC.”

FalconX launched its APAC business in Singapore in 2022 and expanded into Hong Kong in February 2024. “Providing our brokerage services to Australian institutional investors is part of our strategy to provide quality digital asset liquidity to APAC institutional and professional investors,” said Matt Long, APAC General Manager at FalconX. “As the Australian regulatory landscape evolves, demand for exposure to digital assets by institutions including superannuation funds is bound to grow.”

About FalconX

FalconX is a leading digital assets prime brokerage for the world’s top institutions and the first CFTC registered cryptocurrency swap dealer. We provide the most comprehensive access to global digital asset liquidity. Our 24/7 dedicated team for account, operational and trading needs enables investors to navigate markets around the clock.

The company is backed by investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management and Wellington Management. FalconX has offices in Silicon Valley, New York, London, Hong Kong, Bengaluru, Singapore and Valletta. For more information visit falconx.io or follow FalconX on X and LinkedIn.

About Monochrome

Monochrome Asset Management is a leading asset management firm specialising in digital assets. The firm is committed to providing innovative investment solutions that meet the highest standards of security and regulatory compliance. For more information about the Monochrome Bitcoin ETF (IBTC), visit ibtc.au

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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