First Ether ETF Launches on Cboe Australia: A Historic Milestone

First Ether ETF Debuts on Cboe Australia: A New Investment Opportunit

Australia’s First Ether ETF Goes Live on Cboe Australia

Monochrome Asset Management has launched Australia's first exchange-traded fund (ETF) directly holding Ether (ETH). The Monochrome Ethereum ETF (IETH) began trading on Oct. 15, 2024, on the Cboe Australia exchange, marking a significant milestone for crypto investments in the country. By 2:00 pm local time, the fund's total net assets reached $176,600 (262,500 Australian dollars).

Key Features of the Monochrome Ethereum ETF

The IETH fund offers dual-access, allowing investors to engage with transactions either in cash or Ether. It has a management fee of 0.50%, and in-kind applications and redemptions provide flexibility for investors. The fund is managed with the help of notable crypto custodians BitGo and Gemini, while State Street Australia serves as the fund administrator.

Building on Bitcoin ETF Success in Australian Crypto Market

This launch follows Monochrome’s earlier success with its Bitcoin ETF (IBTC), which went live in June 2024. Since then, the Bitcoin ETF has accumulated nearly $10.7 million (16 million Australian dollars) in assets under management. CEO Jeff Yew noted that much of the growth came from crypto holders shifting their assets from exchanges to the ETF structure.

Confidence in Australia’s Crypto ETF Market

Yew expressed confidence in the future of crypto ETFs in Australia, noting that the market for ETFs in the country is on a promising trajectory. He sees significant potential for further growth, with more investors moving towards regulated and structured crypto funds.

Global Context for Crypto ETFs

Australia’s entry into crypto ETFs follows the global trend, led by the United States. In the U.S., 11 spot Bitcoin ETFs have collectively amassed $19.3 billion in assets this year alone. In Australia, the VanEck Bitcoin ETF, launched in June, currently holds around $35 million (52 million Australian dollars) in assets.

The launch of Monochrome’s Ethereum ETF signals a growing appetite for regulated crypto investments in Australia, positioning the country as a key player in the global crypto ETF market.

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