Key Takeaways:
- Monochrome will launch Australia’s first spot Ether ETF (IETH), following their Bitcoin ETF debut in August.
- The Ethereum ETF offers in-kind and cash redemption options, allowing investments and withdrawals in ether.
- Monochrome’s move mirrors global trends, as countries like Hong Kong and South Korea explore spot crypto ETFs.
Monochrome, an Australian crypto investment firm, is set to launch Australia’s first spot ether (ETH) exchange-traded fund (ETF) on Tuesday, following its successful spot Bitcoin ETF debut in August.
The Monochrome Ethereum ETF (IETH) will begin trading at 10:00 a.m. local time, offering investors the option for both in-kind and cash redemptions, allowing purchases and withdrawals in ether.
Monochrome hosted a private event in Sydney this week with our service providers, team, and partners to mark the upcoming launch of the Monochrome Ethereum ETF (Ticker: IETH).#Ethereum #ETF $IETH pic.twitter.com/VAPOgZcPGr
— Monochrome (@MonochromeAsset) October 10, 2024
As of October 10, Monochrome’s Bitcoin ETF held 165 BTC, valued at over $10 million.
The structure of this ether ETF mirrors Hong Kong’s crypto ETFs, which allow flexible redemption.
MONOCHROME TO LAUNCH AUSTRALIA’S FIRST ETHEREUM SPOT ETF (IETH) ON CBOE OCT. 14
— BSCN (@BSCNews) October 14, 2024
– Australia’s Monochrome Asset Management set to launch the country’s first Ethereum spot ETF on Cboe.
– The fund, named IETH, is scheduled to begin trading on Monday or 10 AM AEDT, Tuesday.
Key… https://t.co/Zg1vQRycK8 pic.twitter.com/iiQQ6E4lkr
However, U.S.-listed crypto ETFs manage much larger assets, with $58.66 billion in bitcoin and $6.74 billion in ether.
Other countries, like South Korea, are also considering approving crypto ETFs, indicating growing global interest in regulated crypto investment products.
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