Monochrome launches the world's first Ethereum ETF in Australia

By Daniele Corno

Announced by Monochrome the launch of the first Ethereum spot ETF in Australia, with the ability to redeem in both cash and Ethereum

Australia hosts first Ethereum spot ETF

Monochrome Asset Management is set to launch the first spot ETF Ethereum in Australia. Trading will begin Monday on the Cboe, the Australian stock exchange. This new ETF, called IETH, comes shortly after the launch of the Bitcoin ETF IBTC, which occurred in August 2024. Since then, it has raised about $15 million. Although the Australian market is significantly smaller than the U.S. market, Monochrome stands out for its unique offering.

TheETF allows investors to redeem for cash or directly into Ethereum. This flexibility reduces tax costs and makes the ETF more attractive to long-term Ethereum holders. Thanks to a special structure, investors can transfer Ethereum into the fund without generating capital gains taxes.

Monochrome: capitalizing on the growing demand for ETFs

Monochrome aims to capitalize on the growing interest in crypto-asset investments. The IETH ETF will use a reliable reference rate, the CME CF Ether-Dollar Reference Rate – Asia Pacific Variant. The management fee will be 0.50 percent, with reduced fees for qualified investors.

The ETF will be available on all major banks and brokers in Australia. It will also support transfers from custodial and non-custodial wallets. Custody will be handled by BitGo and Gemini, while State Street Australia will handle fund administration. This strategy is designed to attract both institutional and retail investors, consolidating Monochrome’s position in the crypto spot ETF sector.