According to Odaily Planet Daily, Monochrome Asset Management is preparing to launch Australia's first Ethereum spot ETF on Cboe. Monochrome Ethereum ETF (IETH) will start trading on Monday. The company launched the Bitcoin ETF (IBTC) in August 2023 with a scale of US$10.1 million. The fund is positioned as the world's first fund to provide physical Ethereum subscription and redemption.
The company's CEO Jeff Yew said this feature can improve tax efficiency. The dual-access bare trust structure is designed to prevent capital gains tax events, allowing long-term crypto industry participants to transfer Ethereum into the corresponding Monochrome ETF without triggering changes in legal and beneficial ownership, and giving investors absolute rights to their allocated Ethereum.
