- Australia’s first spot Ethereum ETF is launching on Cboe Australia.
- Monochrome Asset Management hopes to stand out with in-kind subscriptions and redemptions.
- The ETF tracks the CME CF Ether-Dollar Reference Rate and has a 0.50% management fee.
Australia gears up to welcome its first-ever spot Ethereum exchange-traded fund [ETF]. Monochrome’s ETF will track the CME CF Ether-Dollar Reference Rate – Asia Pacific Variant, ensuring that its price closely reflects the performance of Ethereum. As per sources, the ETF will carry a management fee of 0.50%, making it a cost-effective investment option for investors.
The launch of this crypto fund comes at a time when the Australian crypto market is experiencing significant growth. As more investors become interested in digital assets, the demand for regulated and accessible investment products has risen. Monochrome’s ETF is expected to meet this demand and provide a boost to the Australian crypto market.
The ETF’s launch also underscores the growing maturity of the Australian regulatory landscape for digital assets. The Australian Securities and Investments Commission (ASIC) has undertaken steps to foster a more conducive environment for crypto-related products, and the launch of this ETF is a positive sign for the future of the industry.
Ethereum Eyes $2500: Not Another Fakeout
Meanwhile, ETH is showing signs of life as it approaches a crucial resistance level of $2,500. If the crypto asset can break above this level and hold it, a significant price pump could be on the horizon. Traders are cautiously optimistic, hoping that this time the breakout will lead to sustained gains and not just another fakeout.
As the first spot Ethereum ETF in Australia, Monochrome’s product is expected to attract significant interest from both retail and institutional investors. The ETF’s innovative features and competitive pricing make it a compelling investment option for those looking to gain exposure to Ethereum.
Overall, the launch of Monochrome’s Ethereum ETF marks a major milestone for the Australian crypto market. This could be a game-changer for ETH and the broader crypto market. It provides investors with a regulated and accessible way to invest in Ethereum, while also demonstrating the growing maturity of the Australian regulatory landscape for digital assets. As the ETF begins trading, it will be interesting to see how it performs and whether it can set a precedent for future crypto-related products in Australia.