Free Airdrop Season 7 is LIVE! Answer fun questions or do simple tasks to earn rewards from the $30K BitDegree prize pool. Participate Now ! 🔥
Australia's First Ethereum ETF by Monochrome to Launch on Cboe
Last Updated: October 14, 2024
✓ Fact Checked
Key Takeaways
- Monochrome is launching Australia's first spot Ethereum ETF this week;
- In-kind Ethereum transfers offer investors better tax benefits;
- The ETF has a 0.50% management fee, with a discount for advisers.
Monochrome Asset Management is getting ready to launch Australia's first spot Ether
The fund will go live on Cboe at 10 AM local time on October 15 and will be available on most Australian brokerage platforms. It can easily work with crypto exchanges, decentralized wallets, and cold storage.
A standout feature of this ETF is that it allows in-kind Ethereum transfers, which can offer investors tax advantages.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What Are Crypto Quests? EASIEST Ways to Earn Rewards Explained
The ETF is set up with a dual-access bare trust structure, which avoids triggering capital gains taxes. This allows long-term Ethereum holders to move their assets into the ETF without losing ownership.
IETH will mirror the CME CF Ether-Dollar Reference Rate for the Asia Pacific region. The management fee is set at 0.50%, with a discounted rate of 0.21% for accredited advisers.
The custody of IETH will be managed by BitGo and Gemini, while State Street Australia will take care of the fund's administration.
Monochrome introduced Australia's first spot Bitcoin
In other news, Bitwise has recently filed for an XRP ETF in the US.
Loading...
The Most Liked Crypto News Findings
Looking for more latest crypto news on related topic? We have gathered similar news articles for you to spare your time. Take a look!
Latest Crypto News & Videos
×
Verified
