On October 15, 2023, Australia marked a significant milestone with the launch of the Monochrome Ethereum ETF (IETH), becoming the first Ethereum spot ETF listed on Cboe Australia. This innovative financial product reports a total net asset value of approximately US$176,600 (AUD$262,500) as of 2 pm local time. The ETF operates with a competitive management fee of 0.50%, enabling both cash and ETH transactions through its unique physical applications and redemptions. Notably, it stands out as Australia’s only dual-access spot Ethereum ETF, catering to a growing investor appetite. The ETF is custodially managed by renowned firms BitGo and Gemini, while State Street Australia oversees its management. This development underscores a crucial shift in crypto investment opportunities within the region, establishing a framework for regulatory compliance and investor protection.
Source: https://en.coinotag.com/breakingnews/australia-launches-first-ethereum-spot-etf-monochrome-ethereum-etf-ieth-debuts-on-cboe/