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Monochrome Asset Management is set to revolutionize the Australian market by launching the nation’s first spot Ethereum ETF on the Cboe this Monday. The launch follows the successful debut of their Bitcoin ETF earlier in August, which attracted substantial investor interest with a collection of $15 million. Monochrome’s new Ethereum ETF (IETH) introduces a unique feature allowing in-kind subscriptions and redemptions, which can lead to significant tax benefits.
CEO Jeff Yew highlighted the innovative dual-access bare trust structure of the ETF, designed to avoid triggering a capital gains tax event upon transfers. This structure ensures that investors maintain legal and beneficial title to their Ethereum, making it as if they directly own the assets. This could set Monochrome apart from its competitors and appeal to long-term crypto investors.
The fund’s anticipation builds as DigitalX also receives regulatory approval for its Bitcoin ETF on the ASX, signaling a growing institutional acceptance of cryptocurrency products in Australia. Monochrome aims to capitalize on this momentum by offering lower management fees and direct Ethereum ownership through regulated, liquid fund structures.
