Performance data is updated to 31 May 2026.
Monochrome Bitcoin ETF (IBTC) — Review & Analysis
IBTC is Monochrome's spot Bitcoin ETF, tied with IBIT for the cheapest Bitcoin ETF on the ASX at 0.25% p.a. — 20bp below the established 0.45% cohort (VBTC, EBTC, QBTC). The fund tracks the AUD price of Bitcoin via physical custody (not futures). AUM is reported as $0.00M as at May 2026 in the platform feed, reflecting an early-stage data gap rather than no investor flows. Monochrome is an Australian-headquartered crypto asset manager specialising in regulated crypto investment products.
The IBTC vs IBIT comparison comes down to issuer choice at the 0.25% fee tier. Both products charge the same fee, both hold physical Bitcoin, both are CHESS-sponsored. The differentiator is brand and operational focus — Monochrome is an Australian crypto specialist firm; iShares is the world's largest generalist asset manager.
Monochrome's positioning matters in the SMSF and adviser segments specifically. The firm has invested heavily in regulatory engagement, AFS licensing for digital assets, and trustee education — a model designed for professional adoption rather than mass-retail capture. That positioning attracts trustees and advisers seeking ASIC-engaged operators with explicit digital asset focus.
Investment exposure is functionally identical to other physical Bitcoin ETFs — investors get the AUD price of Bitcoin less management fee. The fund is unhedged. Our best ETFs for your SMSF guide covers structural factors that matter for trustee-grade exposure decisions.
Performance (% return)
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Crypto ETFs on the ASX: Bitcoin, Ethereum, and Everything In Between
There are now 11 crypto ETFs on the ASX and Cboe Australia, collectively holding $818 million in assets. Three types: six Bitcoin spot ETFs ($580M combined), three Ethereum spot ETFs ($65M), and two crypto equities/blockchain ETFs ($173M). Together they represent the first time Australian retail and SMSF investors can get meaningful crypto exposure without ever touching a crypto exchange.
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| VBTC | VanEck Bitcoin ETF | -38.05% |
| CRYP | Crypto Innovators ETF | +36.79% |
| EBTC | Bitcoin ETF | -37.94% |
| QBTC | BetaShares Bitcoin Futures ETF | -38.31% |
| BTXX | DigitalX Bitcoin ETF | -38.16% |
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Last updated: January 2026
