- Monochrome launches the world’s first Ethereum ETF on Cboe Australia.
- IETH offers in-kind redemption for Ethereum, enhancing flexibility for investors.
Monochrome Asset Management is poised to make history with the launch of the world’s first Ethereum exchange-traded fund (ETF) on Cboe Australia. Furthermore, the company’s Ethereum ETF, known as the Monochrome Ethereum ETF (IETH), is likely to attract significant attention. Investors seeking exposure to Ethereum can benefit from this option, as it effectively eliminates the complexities of directly holding the cryptocurrency.
Monochrome’s IETH will be the first spot Ethereum ETF in Australia. This event follows Monochrome’s successful application with the Australian Securities and Investments Commission (ASIC) on September 4, 2024. The approval represents a major milestone in the Australian crypto landscape. However, as global demand for digital asset investments rises, Monochrome leads the charge to provide a regulated and secure avenue for investing in Ethereum.
Trading for Monochrome’s Ethereum ETF (IETH) is set to commence on Monday at 11 AM UST. This launch comes after the successful introduction of its Bitcoin ETF (IBTC) in August 2023, which has attracted $15 million (approximately US$10.1 million) in investments.
Monochrome’s Approach to Ethereum Investment
One of the features of Monochrome’s Ethereum ETF is its in-kind redemption model. This feature allows investors to redeem their shares for actual Ethereum. Moreover, it provides flexibility and liquidity for both institutional and retail investors alike. Additionally, the ETF is designed to track the price of Ethereum closely. This structure gives investors an easy way to gain exposure to Ethereum’s price movements.
Monochrome has emphasized the regulatory compliance of its ETF, ensuring that it meets all the necessary standards set by ASIC. Furthermore, the introduction of the Ethereum ETF comes at a time when the Australian crypto market is seeing increased demand for digital asset products. The launch of Monochrome’s Ethereum ETF on Cboe Australia is a significant development for the global crypto market.
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