Australia’s first ETF directly holding Ether goes live

The Monochrome Ethereum ETF (IETH) debuted on Cboe Australia on October 15, following the introduction of the issuer’s spot Bitcoin ETF in June. Monochrome Asset Management has created Australia’s first exchange-traded fund (ETF) that directly owns Ether, with assets under management totaling $176,600.

The Monochrome Ethereum ETF (IETH) became live on the Sydney-based stocks exchange Cboe Australia on October 15, with total net assets hitting $176,600 (262,500 Australian dollars) before 2:00 p.m. local time, according to the exchange.

The fund charges a 0.50% management fee and allows in-kind applications and redemptions in either cash or Ether ETH $2,616.19, making it Australia’s only dual-access spot Ether ETF. The introduction of IETH comes after the firm’s Monochrome Bitcoin ETF (IBTC) was launched in June and has raised about $10.7 million (16 million Australian dollars), according to the business.

Jeff Yew, CEO of Monochrome Asset Management, told Coin Telegraph last month that the most significant growth for the firm’s Bitcoin ETF came from investors shifting cryptocurrency from exchanges to the fund. “Now more and more crypto that had been previously held on exchanges is now being funneled into a regular structure like an ETF,” he told me then.

The introduction of IETH comes after the firm’s Monochrome Bitcoin ETF (IBTC) was launched in June and has raised about $10.7 million (16 million Australian dollars), according to the business.

Jeff Yew, CEO of Monochrome Asset Management, told Coin Telegraph last month that the most significant growth for the firm’s Bitcoin ETF came from investors shifting cryptocurrency from exchanges to the fund. “Now more and more crypto that had been previously held on exchanges is now being funneled into a regular structure like an ETF,” he told me then.

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