TechFlow news: Monochrome Asset Management is preparing to launch Australia's first spot Ethereum ETF on Cboe.
The Monochrome Ethereum ETF (IETH) will begin trading on Monday. The firm previously launched its Bitcoin ETF (IBTC) in August 2023, which reached $10.1 million in size.
The fund claims to be the world’s first offering physical Ethereum-based subscriptions and redemptions. In an interview, CEO Jeff Yew said this feature enhances tax efficiency. The dual-access bare trust structure is designed to prevent capital gains tax events, enabling long-term crypto industry participants to transfer Ethereum into the corresponding Monochrome ETF without triggering changes in legal or beneficial ownership, while granting investors absolute rights over their allocated Ethereum. (Decrypt)
