Monochrome Asset Management To Launch Australia’s First Spot Ethereum ETF
Australian asset manager Monochrome Asset Management is gearing up to launch the country’s first spot Ethereum ETF (exchange-traded fund). The new fund comes just 4 months after the firm launched its spot Bitcoin ETF in June, and will be listed on the Australia Cboe exchange on Oct. 15 at 10:00 a.m. local time. Monochrome Ethereum ETF Will Be More Tax Efficient Than US Funds The Monochrome Ethereum ETF is being positioned as the first ETH ETF to offer in-kind subscriptions and redemptions for the largest altcoin by market cap. According to the asset manager’s CEO, Jeff Yew, this differing model might provide greater tax efficiency to investors, making the fund more attractive than its US competitors. Through a dual-access bare trust structure, the Monochrome Ethereum ETF aims to prevent capital gains tax events for long-term investors. This structure will allow investors to transfer ETH into Monochrome’s fund without triggering a change in legal or b...