Tuesday, February 18, 2025

Monochrome Asset Management Ahead of the Curve – A Pioneering Move for Australia’s First Ether ETF

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Originally published on: September 06, 2024

Australian asset manager Monochrome Asset Management makes a groundbreaking move by filing for the country’s first direct spot Ether exchange-traded fund (IETH) with confidence in a successful outcome.

In a bold announcement on September 5, the firm revealed its application to list the Monochrome Ether ETF on Cboe Australia, aiming for a listing by the end of the month.

CEO Jeff Yew believes the ETF subscription model, allowing investors to choose between fiat or digital assets, will be a game-changer. With the growing interest in their Bitcoin ETF, Yew highlights the trend of investors shifting from crypto exchanges to the ETF for custody, driving significant growth.

Despite the Monochrome Bitcoin ETF holding over $7.6 million in investments as of September 5, Yew acknowledges the fierce competition from US-listed Bitcoin ETFs. However, he emphasizes Australia’s less restrictive crypto environment as a driving force for ETF popularity.

Monochrome’s strategic move aligns with Australia’s unique ETF trajectory, offering a regulated investment avenue unmatched by other countries. The recent launch of VanEck Bitcoin ETF (VBTC) stands out with net holdings exceeding $26 million, showcasing the growing appetite for crypto investments.

Meanwhile, the Global X 21 shares Bitcoin ETF boasts over $65 million in assets under management, proving the increasing demand for crypto-related ETFs worldwide.

Monochrome’s innovative approach to ETFs displays a promising outlook for Australia’s growing crypto market, setting the stage for further advancements in the ETF landscape.

In other news, the rise of crypto addiction among parents and the Pi Network crypto tapper raises concerns in the latest issue of “Help! My parents are addicted to Pi Network crypto tapper” magazine.

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