Sat, September 07, 2024 at 12:37

• 

  Kang-hoon

  • Good day, Annie.

  • Today, I have some exciting news regarding Monochrome Asset Management.

  • They have just filed for the first spot Ether ETF in Australia.

  • 
• Annie

  • Oh, that's interesting!😊 Could you tell me more about this ETF?

  
• 

  Kang-hoon

  • Certainly.

  • On September 5, Monochrome revealed that they submitted a listing application for the Monochrome Ether ETF, also known as IETH, on Cboe Australia.

  • They plan to launch it before the end of this month.

• Annie

  • Wow, that's soon!

  • What makes this ETF special?

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • The key feature is that it will hold Ether directly, making it the first of its kind in Australia.

  • Jeff Yew, the CEO of Monochrome Asset Management, believes this will attract many investors.

• Annie

  • Holding Ether directly sounds like a big deal.

  • How can investors subscribe to this ETF?

  
• 

  Kang-hoon

  • Investors can subscribe to the ETF using fiat money or other cryptocurrencies.

  • This flexibility is expected to be very appealing.

• Annie

  • That does sound convenient.

  • How has their Bitcoin ETF been performing?

  
• 

  Kang-hoon

  • Their Bitcoin ETF has been doing quite well.

  • By September 5, it had received more than $7.6 million AUD in investments.

  • Many investors are transferring their Bitcoin from exchanges to the ETF.

• Annie

  • That's impressive, but how does it compare to other ETFs?

  
• 

  Kang-hoon

  • While $7.6 million AUD is notable, it is still minor compared to US-listed Bitcoin ETFs and some domestic peers.

  • For instance, the VanEck Bitcoin ETF has more than $26 million AUD, and the Global X 21Shares Bitcoin ETF has over $65 million AUD.

• Annie

  • I see.

  • How does Australia compare to other countries in terms of crypto regulation?

  
• 

  Kang-hoon

  • Jeff Yew highlights that Australia is much better regulated than many other countries.

  • This makes it an ideal place for fully regulated crypto investment products.

• Annie

  • That's reassuring.

  • Are there any other notable ETFs in the market?

  
• 

  Kang-hoon

  • Yes, in the United States, BlackRock's iShares Bitcoin Trust has more than $20 billion in flows, and Fidelity's Wise Origin Bitcoin Fund holds nearly $10 billion.

• Annie

  • Those are huge numbers!

  • How does Monochrome's Bitcoin ETF stand out?

  
• 

  Kang-hoon

  • Monochrome's Bitcoin ETF, launched in June, is the first Australian ETF to receive approval under the 2021 Australian Financial Services License for spot cryptocurrency ETFs.

• Annie

  • That sounds like a significant milestone.

  • Do you think this news is a positive development for the market?

  
• 

  Kang-hoon

  • Absolutely, Annie.

  • This is a positive development.

  • The introduction of the Ether ETF will likely attract more investors and increase the overall market liquidity.

  • 

  • It shows growing confidence in regulated crypto products.

• Annie

  • Thanks for the detailed explanation, Kang-hoon.

  • This definitely sounds like good news!😊

  
• 

  Kang-hoon

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.