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Monochrome Ethereum ETF Will Launch In Australia On October 15

Key Points:

Monochrome Asset Management will launch Australia’s first spot Ethereum ETF on the Cboe exchange.
Monochrome Ethereum ETF features dual access for cash and in-kind redemptions, allowing greater tax efficiencies for long-term Ethereum holders.

According to Decrypt, Monochrome Asset Management is set to announce the long-awaited first spot Ethereum ETF in the land down under with a listing on Cboe.

Monochrome Launches First Spot Ethereum ETF in Australia

The Monochrome Ethereum ETF, IETH, will be released for circulation this Tuesday, with trading expected to go live at 10 AM AEDT. The move comes after a spate of Ethereum ETFs that have just been highly speculated in the U.S. market.

The launch of IETH follows Monochrome’s successful introduction of its Bitcoin ETF, IBTC, in August 2023, which has gained $15 million in assets under management. Compared to the substantial amounts held by U.S. ETFs, Monochrome is positioning IETH as something a little different. It will be the world’s first ETF to allow in-kind Ethereum subscriptions and redemptions, potentially offering investors a tax benefit.

Monochrome Ethereum ETF to Offer Tax-Efficient Dual Access for Investors

Monochrome’s CEO, Jeff Yew, said the Monochrome Ethereum ETF would offer a regulated and simple way for retail investors to get exposure to Ethereum. It features a dual-access mechanism whereby investors can redeem either in cash or in-kind.

IETH will be the first dual-access crypto ETP on the ASX and will help prevent capital gains tax from being triggered for long-term holders, it added, through allowing them to transfer the Ethereum into the ETF without a change in legal ownership.

The launch of IETH will see Monochrome further expand the range of regulated crypto investment products available to Australian investors. It follows on from the success of its Bitcoin ETF, which was the first in Australia to hold the cryptocurrency directly.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.