Monochrome Asset Management, an Australian firm authorized to provide institutional access to Bitcoin, has applied for a spot Ethereum exchange-traded fund (ETF) with Cboe Australia.
Application for Spot Ethereum ETF
According to an announcement, if approved, the Ethereum ETF will trade under the ticker IETH on Cboe Australia. The firm also added that it expects an official confirmation before the end of the month and seeks to provide “retail investors regulated access to Ethereum.”
Company Expectations
“Subject to quoting approval, Monochrome expects IETH to be quoted on Cboe Australia towards the end of September 2024 and will be available on major brokerage platforms,” the firm stated.
Collaboration and Planned Actions
Monochrome’s Responsible Entity partner, Vasco Trustees Limited, will collaborate on the launch of IETH. The ETF will passively hold Ethereum, “offering retail investors a unique, regulated opportunity” to gain exposure to Ether (ETH), the native token of the Ethereum blockchain.
Monochrome awaits the final decision on its spot Ethereum ETF application by the end of September, which could be a significant step in providing retail investors with regulated access to cryptocurrencies.
Comments