Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ETHEREUM NEWS»Monochrome launches ‘world’s first’ Ethereum ETF at Cboe Australia
ETHEREUM NEWS

Monochrome launches ‘world’s first’ Ethereum ETF at Cboe Australia

By Crypto FlexsOctober 14, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Monochrome launches ‘world’s first’ Ethereum ETF at Cboe Australia
Share
Facebook Twitter LinkedIn Pinterest Email

Monochrome Asset Management is preparing to launch Australia’s first Ethereum exchange-traded fund on Cboe following the asset’s long-awaited approval in the US market.

Monochrome’s Ethereum ETF (IETH), which is scheduled to begin trading on Monday (Tuesday 10am AEDT), has raised $US15 million (US$10.1 million) since the launch of the Bitcoin ETF (IBTC) in August 2023.

Although this is far short of the billions of dollars held by the United States, the fund positions itself as the first fund in the world to offer in-kind Ethereum subscriptions and redemptions.

CEO Jeff Yew said this was a feature that could increase tax efficiency. decryption In an exclusive interview.

The dual-access simple trust structure is designed to prevent capital gains tax events, allowing long-term cryptocurrency participants to transfer Ethereum to the corresponding Monochrome ETF without changing legal and beneficial ownership.

“‘Sheer trust’ means that an investment in an ETF can be treated as if you own Ethereum directly,” Yew explained.

In other words, this structure gives investors absolute rights to their allocated Ethereum. decryption.

This means that any action taken by the trustee will be treated as an action by the investor, ensuring that no CGT event occurs on redemption or transfer unless beneficial ownership changes.

This structure is what Monochrome hopes will set it apart from its American counterparts.

Last January, the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs. Then in May, nine Ethereum ETFs were approved, bringing billions of dollars into funds in the months that followed.

It’s unlikely the Australian market can keep up with this influx, but Monochrome is hoping to build on surging investor interest this year.

“U.S. cryptocurrency ETFs, including the Bitcoin ETF, do not have in-kind support and do not operate in this time frame,” Yew said.

IETH tracks the CME CF Ether-Dollar benchmark rate (Asia Pacific variant) with a management fee of 0.50%, reduced to 0.21% for accredited advisors. This puts it well within the range of its US competitors, which offer an average of 0.20% and 0.25%.

The ETF is also available on most Australian brokerage platforms and supports transfers from cryptocurrency platforms, decentralized wallets and cold wallets.

Cryptocurrency financial services company BitGo and cryptocurrency exchange operator Gemini will provide custody services for IETH, while State Street Australia will act as fund manager.

daily report newsletter

Start your day today with top news stories, original features, podcasts, videos and more.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Is Alt Season finally here, just as Ether Lee’s tearing and a small cap follows?

August 11, 2025

Protocol Update 001 -scale L1

August 7, 2025

Stablecoins are finally legal

August 3, 2025
Add A Comment

Comments are closed.

Recent Posts

A Global Initiative To Transform Crypto Education From The Ground Up

August 11, 2025

Cango Inc. Acquires 50 MW Bitcoin Mining Facility In Georgia, Laying Groundwork For Future Energy Strategy

August 11, 2025

SIM Mining Cloud Mining Allows Global Investors To Easily Earn BTC And DOGE Profits Using Just Their Smartphones (daily Income Of $23,999 USD)

August 11, 2025

MultiBank Group Delivers Record H1 Results With $209M Revenue And MBG Token Driving 7X Returns Since Launch.

August 11, 2025

The Animoca brand invests in a nice cat

August 11, 2025

Is Alt Season finally here, just as Ether Lee’s tearing and a small cap follows?

August 11, 2025

Flareonix airdrop is live! Under the share of 100m FXP today!

August 11, 2025

Carv can be used for transactions!

August 10, 2025

Ethereum (ETH), SEI (Sei), and Bonk (Bonk) gathered in July, but one token is prepared to dominate next.

August 10, 2025

Floki and OnDo expand their profits as Robinhood Listing strengthens.

August 10, 2025

Vitalik Buterin regains the title of ‘Onchain Billionaire’, where ether reaches $ 4.2K.

August 10, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

A Global Initiative To Transform Crypto Education From The Ground Up

August 11, 2025

Cango Inc. Acquires 50 MW Bitcoin Mining Facility In Georgia, Laying Groundwork For Future Energy Strategy

August 11, 2025

SIM Mining Cloud Mining Allows Global Investors To Easily Earn BTC And DOGE Profits Using Just Their Smartphones (daily Income Of $23,999 USD)

August 11, 2025
Most Popular

Tron Jumps into Solana Memecoin Craze and SunPump Clears

August 23, 2024

Catch 22 of U.S. cryptocurrency regulation

March 3, 2024

Toyota’s Love for Ethereum, HK Backs Bitcoin ETF, Stablecoins: Asia Express

July 25, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.