Monochrome Asset Management, an Australian-based asset manager, is preparing to launch the country’s first Ether spot Exchange-Traded Fund (ETF) on the Cboe Australia exchange tomorrow, October 15, 2024.
According to Monochrome’s official website, the new crypto investment product will be named Monochrome Ethereum ETF (IETH), debuting at 10:00 AM local time. This ETF is designed specifically for investors seeking direct exposure to Ether within a regulated and compliant investment environment.
Key Features of IETH
One of the main advantages of the Monochrome Ethereum ETF is its flexibility regarding investment and redemption options. Quoted by Decrypt, Monochrome CEO Jeff Yew explained that IETH would operate under a dual-access “bare-trust” structure, allowing investors to transact using either fiat currency or Ether.
This structure provides a more tax-efficient benefit, as investors can transfer assets into the ETF without triggering capital gains tax.
“A ‘bare trust’ means that your investment in the ETF is treated as if you directly own Ethereum,” Yew noted.
Additionally, IETH ensures that Ether ownership remains directly in the hands of investors, so any actions taken by third parties are treated as if executed by the investor themselves. As a result, investors do not need to worry about legal or tax status changes during redemption or transfer, as long as ownership rights remain consistent.
The launch of this Ether spot ETF follows Monochrome’s introduction of the Bitcoin spot ETF in August 2024, which operates under the ticker IBTC. As of October 14, IBTC has amassed a net asset value of US$15.9 million.
Follow our Twitter : https://x.com/safubit
Read : YouTuber MrBeast Accused of Crypto Pump & Dump, Earns Rp202B (dinodapps.com)
