Australia to Launch Its First Spot Ether ETF

On October 14 Australia will introduce its first spot ether exchange-traded fund (ETF) through Monochrome, a crypto investment firm. This launch follows Monochrome’s spot Bitcoin ETF, which debuted in August.

The Monochrome Ethereum ETF (IETH) will go live at 23:00 UTC, enabling cash and in-kind redemptions. Investors will have the flexibility to buy and redeem shares using ether, mirroring the structure of similar crypto ETFs in Hong Kong.

Monochrome’s August bitcoin ETF holds 165 BTC worth over $10 million as of October 10. Globally, the market for crypto ETFs has expanded, though the scale remains smaller outside the U.S. In comparison, U.S. crypto ETFs manage $58.66 billion in bitcoin and $6.74 billion in ether assets. The recent interest in ETFs is further reflected in South Korea’s Financial Services Commission’s consideration of crypto ETF approvals.