Australian asset manager Monochrome applies for new Ethereum ETF, with a decision expected by the end of this month

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Monochrome Asset Management, in partnership with Vasco Trustees Limited, has officially applied to list the Monochrome Ethereum Exchange Traded Fund (ETF) on Cboe Australia, the company said in a press release on Thursday. Monochrome expects a decision before the end of this month.

Designed to passively own Ethereum (ETH), Monochrome’s proposed product aims to provide retail investors with a regulated method to invest in the world’s second largest crypto asset by market capitalization. If approved, the ETF will be listed under the symbol IETH, the firm said.

The introduction of IETH will expand the variety of regulated investment options in crypto assets for Australian investors. It will follow the previous launch of the company’s flagship product, the Monochrome Bitcoin ETF (IBTC), also recognized as Australia’s first ETF to hold Bitcoin directly.

As of September 4, IBTC’s Bitcoin holdings were valued at about $11.3 million, according to an update on its website.

The IETH fund will also have dual access, allowing investors to trade in both cash and kind. Pending approval, Monochrome anticipates that IETH will be accessible through major brokerage platforms.

This is a developing story. We’ll update as we learn more.

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