Monochrome Asset Management is preparing to launch Australia’s first spot Ethereum exchange-traded fund on Cboe following the asset’s long-anticipated approval in the U.S. market. Set to begin trading on Monday (Tuesday 10 AM AEDT), Monochrome’s Ethereum ETF (IETH) follows the launch of its Bitcoin ETF (IBTC) in August 2023, which has since garnered $15 million (US$10.1 million). “A ‘bare trust’ means that your investment in the ETF may be treated as if you directly own the Ethereum,” Yew explained. That was later followed by the approval of nine Ethereum ETFs in May, with billions of dollars flowing into the funds in the months that followed. "US crypto ETFs can’t be supported in kind, including Bitcoin ETFs, and they are not operated in this timezone," Yew said.

Source: The Nation October 14, 2024 03:43 UTC