First ETF That Directly Holds Ether is Launched in Australia

Monochrome Asset Management has introduced in Australia the first ETF that directly holds Ether, called the Monochrome Ethereum ETF (IETH).

The ETF has been launched on the Sydney-based Cboe Australia exchange.

The fund, which has a management fee of 0.50%, allows in-kind requests and redemptions in cash or Ether, making it the only dual-access spot Ether ETF in Australia.

BitGo and Gemini are the appointed custodians, while State Street Australia is the fund manager.

This ETF follows the previous launch of the Monochrome Bitcoin ETF (IBTC) in June, which has raised nearly $10.7 million in assets.