Monochrome pushes for Ethereum ETF on Cboe Australia
Ad Monochrome Asset Management has filed to list an Ethereum ETF on Cboe Australia under the ticker IETH, aiming to provide retail investors with regulated exposure to Ethereum. The ETF will allow cash or in-kind redemptions and a decision on the application is expected by the end of September. If approved, IETH will enhance regulated crypto investment options in Australia, following the launch of Monochrome’s Bitcoin ETF (IBTC), which held $11.3 million in Bitcoin as of September 4. Ethereum ETFs in the U.S. have faced challenges, with negative net flows of $476 million attributed to factors like Bitcoin's first-mover advantage and lower liquidity in the Ethereum market. Quinn Thompson noted a lack of institutional interest in Ethereum at its current valuation, while Eric Balchunas anticipates that outflows from Ethereum ETFs will eventually stabilize as new inflows occur.
