Australia is set to launch its first spot Bitcoin ETF tomorrow, June 4, 2024. The ETF, named IBTC, will be launched by Monochrome Asset Management and will be listed on the Cboe Australia exchange. This Monochrome Bitcoin ETF will hold Bitcoin directly, providing greater investor protection under AFSL licensing rules. The launch marks a significant milestone in Australia's cryptocurrency market, joining the ranks of countries like Hong Kong and the United States that offer similar products. Additionally, Bitcoin spot ETFs experienced a net inflow of $170 million last week.