The post Australia Launches First Ethereum Spot ETF: Monochrome’s IETH Set to Transform Crypto Investment Landscape appeared on BitcoinEthereumNews.com.

Monochrome Asset Management is set to make a significant stride in the Australian investment landscape with the launch of the country’s first Ethereum spot ETF. Scheduled to commence trading on Cboe on October 16, 2023, the Monochrome Ethereum ETF (IETH) is poised to expand the crypto investment offerings available to retail and institutional investors. This initiative follows the successful introduction of the Bitcoin ETF (IBTC) in August, which garnered over US$10.1 million in initial investment. CEO Jeff Yew emphasizes that the ETF’s innovative structure allows for physical subscriptions and redemptions, which enhances tax efficiency for investors. The fund utilizes a dual access bare trust structure, strategically designed to shield participants from immediate capital gains tax implications. This mechanism enables long-term holders in the crypto sector to seamlessly transfer Ethereum into the Monochrome ETF without altering legal ownership, thereby preserving their rights to the underlying assets. Source: https://en.coinotag.com/breakingnews/australia-launches-first-ethereum-spot-etf-monochromes-ieth-set-to-transform-crypto-investment-landscape/

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Filed under: News - @ October 14, 2024 2:49 am