{"id":1094,"date":"2024-10-14T14:02:40","date_gmt":"2024-10-14T14:02:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1094"},"modified":"2024-10-14T14:02:40","modified_gmt":"2024-10-14T14:02:40","slug":"worlds-1st-ethereum-etf-with-in-kind-redemption-debuts-a-new-era-for-crypto-investors","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1094","title":{"rendered":"World\u2019s 1st Ethereum ETF With In-Kind Redemption Debuts\u2014A New Era For Crypto Investors"},"content":{"rendered":"
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Australia is joining the global spot ETF frenzy courtesy of Monochrome\u2019s Ethereum ETF<\/a> (IETH). Monochrome\u2019s announcement comes two months after the company launched its Bitcoin ETF (IBTC), which boasts a US$10.1 million investment since August last year.<\/p>\n

The product\u2019s success primarily influenced the company\u2019s foray into the spot ETF market in the United States.<\/p>\n

A few months after the US Securities and Exchange Commission (SEC) approved the spot Bitcoin ETFs, the agency also had the green light on Ether\u2019s ETF, paving the way for broader institutional participation.<\/p>\n

Although there was poor reception for the spot Ether ETFs<\/a> immediately after its launch, this doesn\u2019t dampen the spirits of the Monochrome team to introduce the same product in Australia.<\/p>\n

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Monochrome\u2019s new product boasts reduced tax liabilities with an in-kind redemption. The company is counting on this extra feature to bring excitement into the industry and boost demand.<\/p>\n

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Monochrome to launch first Ethereum ETF on Cboe Australia<\/p>\n

Australian digital asset management firm Monochrome is set to launch Australia\u2019s first spot Ethereum ETF (IETH) with trading beginning on Monday on Cboe Australia, according to Decrypt. Previously, Monochrome launched its\u2026<\/p>\n

\u2014 CoinNess Global (@CoinnessGL) October 14, 2024<\/a><\/p>\n<\/blockquote>\n

Monochrome\u2019s Ethereum ETF Starts Trading On October 14th<\/strong><\/h2>\n

Traders and institutional investors can expect to buy and trade the fund starting Monday, October 14th. The product will be listed and traded at Cboe Australia<\/a>, which provides a platform for participants to trade a variety of asset classes and products.<\/p>\n

According to Jeff Yew, Monochrome\u2019s CEO, the company\u2019s Ether ETF differs from its US counterpart. It\u2019s the world\u2019s first Ether ETF with in-kind Ether redemption and subscriptions. Yew further explains that Monochrome\u2019s new product boasts better tax efficiency to holders, which can spur demand.<\/p>\n

<\/p>\n

What Can You Expect From The Monochrome Ethereum ETF?<\/strong><\/h2>\n

This new product offers several helpful features for local traders and investors. Monochrome\u2019s Ethereum ETF is a dual-access fund, meaning investors can enjoy cash or in-kind applications and redemptions.<\/p>\n

The fund\u2019s unique structure allows an investor to transfer Ether into the ETF without changing the beneficial ownership. In short, investors don\u2019t have to worry about additional costs associated with a change in ownership structure. The fund\u2019s structure also gives the investor full entitlement to the allocated Ether.<\/p>\n

Monochrome Ethereum ETF To Compete Against US Funds<\/strong><\/p>\n

With its formal launch this week, Monochrome\u2019s Ethereum ETF now directly competes with US crypto and ETF funds. Interested investors and traders can access the fund through popular Aussie brokerage platforms and accept transfers using decentralized and cold wallets and crypto platforms. It comes with a 0.5% management fee, which becomes 0.21% for an accredited adviser.<\/p>\n

Monochrome\u2019s rate is comparable to that in the US, with rates ranging from 0.20 to 0.25%. To make its offerings more competitive, Monochrome has partnered with industry players like Gemini and BitGO for its crypto custody.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Australia is joining the global spot ETF frenzy courtesy of Monochrome\u2019s Ethereum ETF (IETH). Monochrome\u2019s announcement comes two months after the company launched its Bitcoin ETF (IBTC), which boasts a US$10.1 million investment since August last year. The product\u2019s success primarily influenced the company\u2019s foray into the spot ETF market in the United States. A […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1094","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1094"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1094\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}