Monochrome Asset Management Launches Australia’s First Ether-Holding ETF

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Monochrome Asset Management has introduced Australia’s first exchange-traded fund (ETF), which directly holds Ether (ETH).

The Monochrome Ethereum ETF (IETH) debuted on October 15 on the Cboe Australia exchange, making it the first fund of its kind in the region to offer direct Ether exposure.

By mid-afternoon, the fund had already accumulated $176,600 in net assets (262,500 Australian dollars), according to reports from Cboe Australia.

The IETH fund comes with a management fee of 0.50% and allows in-kind transactions, meaning investors can carry out trades using either cash or Ether.

This flexibility makes it a unique option in Australia, as it’s the only dual-access Ether ETF available, allowing investors to seamlessly move between fiat and cryptocurrency.

BitGo and Gemini serve as the fund’s custodians, while State Street Australia handles administrative responsibilities.

The launch of IETH follows Monochrome’s earlier success with its Monochrome Bitcoin ETF (IBTC), which was introduced in June 2024.

IBTC has since garnered approximately $10.7 million in assets (16 million Australian dollars), according to company figures.

Monochrome Asset Management CEO Jeff Yew commented on this growth last month, explaining that a significant portion of the inflows came from clients moving their cryptocurrency holdings from exchanges into the ETF.

“The biggest growth we’ve seen for our Bitcoin ETF has been from crypto that was previously held on exchanges,” Yew said.

He added that he expects spot crypto ETFs to continue to perform well in the