Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
IETH: Monochrome’s Bid to Launch Australia’s First Spot Ethereum ETF

IETH: Monochrome’s Bid to Launch Australia’s First Spot Ethereum ETF

CoineditionCoinedition2024/09/04 16:00
By:Anisha Pandey
  • Monochrome has filed for a spot ETH ETF with Cboe Australia.
  • The firm expects a decision by the end of September.
  • US Spot ETH ETFs saw outflows worth $37 million on September 4.

Monochrome Asset Management, an Australian firm authorized to provide institutional access to Bitcoin, has applied for a spot Ethereum exchange-traded fund (ETF) with Cboe Australia.

According to an announcement , if approved, the Ethereum ETF will trade under the ticker IETH on Cboe Australia and the firm also added that it expects an official confirmation before the end of the month and seeks to provide “retail investors regulated access to Ethereum.”

“Subject to quoting approval, Monochrome expects IETH to be quoted on Cboe Australia towards the end of September 2024 and will be available on major brokerage platforms.”

Monochrome’s Responsible Entity partner, Vasco Trustees Limited, will collaborate on the launch of IETH. The ETF will passively hold Ethereum, “offering retail investors a unique, regulated opportunity” to gain exposure to Ether (ETH), the native token of the Ethereum blockchain.

It is important to note that IETH is a dual-access fund which means that the investment product will allow “cash and in-kind applications and redemptions for investors,” read the announcement. If approved, the debut of the spot ETH ETF will follow the much-anticipated debut of spot BTC ETH in Australia in June this year. 

Read also: Spotlight on Ethereum Spot ETFs: Fee Structures and Launch Details

Spot Ethereum ETF in the US

Spot Ethereum ETFs were approved in the United States in May but have underperformed expectations.  According to the data from SoSoValue, a total of $562 million has left the American spot ETH ETFs with Grayscale’s ETHE bleeding $2.65 billion. 

Read also: Ethereum ETFs Launch with Record-Breaking $1 Billion Trading Volume

On the other hand, BlackRock’s ETHA and Fidelity’s FETH have reported $1.01 billion and $397.81 million in inflows. However, the outflows from Grayscale’s Ethereum ETF have outweighed these inflows, and on September 4th, the sector saw outflows worth $37.51 million. Meanwhile, Grayscale’s Mini-ETH ETF secured $3 million in inflows.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04