Monochrome Asset Management, an Australian asset management firm, has filed for the country's first spot ether exchange-traded fund.
The proposed Monochrome Ether exchange-traded fund (IETH) has been submitted for listing on Cboe Australia and is expected to be approved by the end of September, according to a September 5 announcement.
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Monochrome Asset Management CEO Jeff Yew anticipates strong interest in the ETF due to its subscription model, which allows investors to choose between investing with fiat money or other digital assets.
Yew also noted they have seen a growing trend of investors moving their custody points from cryptocurrency exchanges to ETFs, which has contributed to its growth.