Monochrome will launch Australia's first Ethereum spot ETF on Cboe

2024-10-14 10:21:08

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ChainCatcher news, according to Decrypt, Monochrome Asset Management is preparing to launch Australia's first Ethereum spot ETF on Cboe.

The Monochrome Ethereum ETF (IETH) will begin trading on Monday, following the launch of its Bitcoin ETF (IBTC) in August 2023, which reached a size of $10.1 million.

The fund positions itself as the world's first fund to offer physical Ethereum subscriptions and redemptions. The company's CEO, Jeff Yew, stated in an interview that this feature can enhance tax efficiency, and the dual access structure of the bare trust is designed to prevent capital gains tax events, allowing long-term participants in the crypto industry to transfer Ethereum into the corresponding Monochrome ETF without triggering changes in legal and beneficial ownership, and granting investors absolute rights to their allocated Ethereum.

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Monochrome Cryptocurrency Asset Management Company