Australia Launches First Spot Ether ETF

- Australian investment firm Monochrome has announced the launch of the country’s first spot ether (ETH) ETF.

- The Monochrome Ethereum ETF (IETH) will begin trading on Tuesday at 10:00 a.m. local time.

- The ETF will allow investors to make both cash and in-kind redemptions.

- Monochrome previously launched a spot bitcoin (BTC) ETF in August.

- The Bitcoin ETF held 165 bitcoins worth over $10 million in October.

- Similar ETFs in Hong Kong have $262.97 million in bitcoin and $35.07 million in ether.

- In the United States, bitcoin ETFs hold $58.66 billion in assets, while Ether holds $6.74 billion.

- Other countries are also considering launching crypto ETFs, including South Korea.