Monochrome to Launch of Ethereum ETF on Australian Derivative Exchange

Australian investment management firm dedicated to ensuring regulated access to Bitcoin, Monochrome Asset Management, has announced that it has made significant move towards the launch of the Ethereum ETF following it application for listing on Cboe Australia, an Australian derivative exchange.

The asset management firm would be partnering with Australian entity firm, Vasco Trustees Limited, to list the product on CBOE Australia. 

With all eyes set on the end of the month for the listing approval news, Monochrome expects the application to replicate the success of its IBTC offering, Monochrome Bitcoin ETF. IBTC wasn’t only Monochrome’s first major offering, it is also believed by many to be the pioneer ETF product in Australia without any intermediary. 

Explaining the design of the ETF, the company mentioned that retail investors would benefit from special and regulated assess to Ethereum via IETH as the Monochrome Ethereum ETF would be tied passively to Ethereum. 

This development comes off as a positive milestone for crypto investors in Australia as it will provide more investment opportunities for the investors within regulated frameworks. Monochrome relies on its credibility as a firm whose assets are regulated by licensed authority’s to promise retail investors secured funds. 

The framework of the product will provide two-way access to investors. This ensures that investors can initiate transactions in cash or non-cash forms. When the listing request is approved, most of the popular brokerages will host Monochrome Ethereum ETF. 

The growth of cryptocurrency in Australia continues to open several opportunities for corporations, investors, and retailers. The remarkable growth can be witnessed in the rise of crypto-based startups and innovations, with users expected to get to over 42% of the population before 2024 runs out.