Australian asset supervisor Monochrome applies for tag spanking new Ethereum ETF, eyes decision by pause of this month

The fund will offer twin-safe admission to for money and in-kind transactions.

Monochrome Asset Management, in partnership with Vasco Trustees Little, has officially utilized to checklist the Monochrome Ethereum replace-traded fund (ETF) on Cboe Australia, the firm shared in a Thursday press release. Monochrome expects a decision before the pause of this month.

Designed to passively withhold Ethereum (ETH), Monochrome’s proposed product goals to offer retail investors with a regulated formulation to invest on the planet’s second-greatest crypto asset by market capitalization. If authorized, the ETF shall be listed under the IETH ticker, stated the company.

The introduction of IETH is determined to expand the vary of regulated funding alternate solutions in crypto property for Australian investors. This can follow the earlier rollout of the firm’s flagship product, the Monochrome Bitcoin ETF (IBTC), additionally identified as Australia’s first ETF that holds Bitcoin presently.

As of September 4, IBTC’s Bitcoin holdings were valued at around $11.3 million, primarily based on an update on its online page.

The IETH fund will additionally feature twin safe admission to, allowing both money and in-kind transactions for investors. Pending approval, Monochrome anticipates that IETH shall be accessible via indispensable brokerage platforms.

Here’s a constructing sage. We’ll update as we learn more.