- Monochrome’s New Application for Ethereum ETF
- Monochrome CEO's Comments
- Earlier Released Bitcoin ETF by Monochrome
Monochrome Asset Management has filed an application to list an Ethereum ETF in Australia, expected to be the country's first such fund. The ETF is anticipated to be listed under the ticker IETH on Cboe Australia by the end of the month.
Monochrome’s New Application for Ethereum ETF
On September 5, Monochrome Asset Management filed an application for an Ethereum ETF designed to trade and hold ether directly. The asset manager aims to have the application approved by the end of the month, with the fund to be launched on Cboe Australia under the ticker IETH.
Monochrome CEO's Comments
Monochrome Asset Management CEO Jeff Yew expressed high expectations for the Ethereum ETF. He believes that the ETF’s in-kind subscription model, allowing investments in fiat or digital assets, will appeal to investors. Yew also commented on Australia's crypto space, stating that it is more accommodating to digital assets compared to other countries. He added that ETFs are 'unplugging a stopgap,' enabling the market to embrace fully regulated assets.
Earlier Released Bitcoin ETF by Monochrome
Earlier in June, Monochrome Asset Management released its Bitcoin ETF, which directly holds Bitcoin assets. The Bitcoin Exchange Traded Fund (IBTC) was one of the first to gain approval in Australia under the country’s crypto asset licensing category. By September 5, IBTC had invested about 11.4 million Australian dollars, equivalent to almost $8 million. Jeff Yew remarked that several individuals are moving their custody points from exchanges into his company’s Bitcoin ETF, significantly contributing to IBTC’s growth. While the Bitcoin ETF has been performing fairly well, its investments are slightly lower compared to the top US Bitcoin ETFs and some Australian-based funds.
Monochrome's application to list the first Ethereum ETF in Australia under the ticker IETH on Cboe Australia could mark a significant step for the country’s crypto asset market.
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