Monochrome will today be launching its first Australia-based spot Ethereum (ETH) exchange-traded fund (ETF).
The Monochrome Ethereum ETF (IETH) is scheduled to debut at 10:00 AM local time. This follows the successful launch of Monochrome’s spot Bitcoin ETF in August.
As of October 10, the Bitcoin ETF fund held 165 Bitcoin (BTC) with a value of over $10 million. Similar to spot crypto ETFs in Hong Kong, IETH will allow investors to both buy and sell the fund using cash or Ethereum.
As of October 10, Hong Kong’s spot Bitcoin and Ethereum ETFs have net assets of $262.97 million and $35.07 million respectively. In comparison, ETFs listed in the US hold Bitcoin worth $58.66 billion and Ethereum worth $6.74 billion, according to SoSoValue.
After the successful launch of crypto ETFs in the US in January, several countries have also approved listings of spot crypto ETFs, although on a smaller scale.
