Australian investment company Monochrome has announced the launch of its new Monochrome Ethereum ETF (IETH), which will begin trading tomorrow. This move follows the release of their spot Bitcoin ETF in August and opens new opportunities for cryptocurrency traders in Australia.

Trading Options with Cash and ETH

IETH, similar to spot crypto ETFs in Hong Kong, will allow transactions in both cash and 'in-kind' asset-based applications and redemptions, enabling investors to invest directly in the fund using ETH and withdraw in the same manner.

Growing Interest in Crypto ETFs

As of October 10, Hong Kong’s spot Bitcoin ETFs hold assets valued at $262.97 million, while spot Ethereum ETFs manage a net worth of $35.07 million. In contrast, cryptocurrency ETFs in the US have a significantly larger market capitalization, with spot Bitcoin ETFs managing $58.66 billion and spot Ethereum ETFs at $6.74 billion.

Global Market Perspectives

Crypto ETF activity is also increasing globally. Following the launch of spot crypto ETFs in the US in January, many countries have taken similar steps, although these funds remain significantly smaller than those in the US. Last week, South Korea’s Financial Services Commission announced it is considering allowing crypto ETFs.

The launch of the Monochrome Ethereum ETF opens new frontiers for Australian investors, providing an opportunity to participate in the evolving cryptocurrency market with innovative tools.