Monochrome Asset Management is set to introduce Australia’s first spot Ethereum Exchange-Traded Fund (ETF), IETH, with trading beginning on October 15 at 10 AM AEDT. The announcement marks a significant moment for the Australian crypto investment landscape, as IETH will be listed on the Cboe exchange.
Australia’s Groundbreaking Ethereum ETF
The launch of the Monochrome Ethereum ETF follows Monochrome’s successful Bitcoin ETF (IBTC), introduced in August 2023, which quickly amassed $15 million in assets under management. IETH is being positioned as a unique investment opportunity, especially given its status as the world’s first Ethereum ETF to allow in-kind subscriptions and redemptions. This mechanism could offer investors tax advantages by enabling them to transfer Ethereum into the ETF without triggering capital gains tax, potentially benefiting long-term holders.
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Simplified and Regulated Ethereum Access
Monochrome’s CEO, Jeff Yew, explained that the IETH ETF aims to provide retail investors with a regulated and simplified way to gain exposure to Ethereum. Its dual-access feature, which allows investors to redeem either in cash or in-kind, further differentiates it from other crypto investment products.
Expanding Regulated Crypto Investment Products in Australia
The launch of IETH further solidifies Monochrome’s commitment to expanding regulated crypto investment opportunities for Australian investors. Following the success of its Bitcoin ETF, the Ethereum ETF will offer another safe and structured pathway for Australians to directly invest in leading cryptocurrencies.
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Monochrome’s introduction of the Ethereum ETF continues its mission of making regulated crypto investments accessible to Australian retail investors.
XingChi
