Australia Launches First Ethereum Spot #ETF $ETH

Monochrome Asset Management Launches Australia's First Exchange Traded Fund (ETF) #Ethereum The Monochrome Ethereum ETF (IETH) launched today on the Sydney stock exchange Cboe Australia with total net assets reaching $176,600.

According to Cointelegraph, the fund management fee is 0.50% and offers in-kind applications and redemptions, allowing both cash and digital asset transactions. BitGo and Gemini are the cryptocurrency custodians of the ETF, and State Street Australia is the fund administrator.

In June, Monochrome also launched its own Bitcoin ETF (IBTC), which raised nearly $10.7 million. Australia's first BTC-ETF was introduced by VanEck in June. Currently, the spot bitcoin ETF has total net assets of about $35 million

Earlier in October, financial companies started the race to launch spot exchange-traded funds (ETFs) on XRP. The US Securities and Exchange Commission (SEC) has received several applications to create an ETF based on the cryptocurrency XRP.