Australian asset manager Monochrome applies for new Ethereum ETF, eyes decision by end of this month

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The fund will offer dual-access for cash and in-kind transactions.

Australia asset manager Monochrome applies for new Ethereum ETF, eyes decision by end of this month

Key Takeaways

Monochrome partners with Vasco Trustees to launch an Ethereum ETF. The ETF is set for Cboe Australia listing by September 2024. <?xml encoding="UTF-8"?>

Monochrome Asset Management, in partnership with Vasco Trustees Limited, has officially applied to list the Monochrome Ethereum ETF on Cboe Australia, the company shared in a Thursday press release. Monochrome expects a decision before the end of this month.

Monochrome’s proposed investment product, designed to passively hold Ethereum, aims to provide retail investors with a regulated method to invest in the world’s second-largest crypto asset by market capitalization. If approved, the ETF will be listed under the IETH ticker.

The introduction of IETH is set to expand the variety of regulated investment options in crypto assets for Australian investors, following the earlier release of the Monochrome Bitcoin ETF (IBTC), the firm stated.

The IETH fund will also feature dual access, allowing both cash and in-kind transactions for investors. Pending approval, Monochrome anticipates that IETH will be accessible through major brokerage platforms.