Monochrome CEO's Confidence and Outlook on Ethereum ETF
Monochrome is confident that it will apply to become the first exchange-traded fund (ETF) in Australia to directly hold Ethereum. According to the company's announcement, the fund's application for listing on Cboe Australia was submitted on September 5, and it is expected to be listed before the end of this month. As a pioneer in the field of asset management in Australia, Monochrome CEO Jeff Yew pointed out that the successful growth of Bitcoin ETFs has laid the foundation for Ethereum ETFs, which are expected to attract more investor attention.
Yew mentioned that as investors move cryptocurrencies from exchanges to ETFs, this trend will drive inflows into Ethereum ETFs. He said: "Investors choose to invest in fiat currency or other digital assets, and this physical subscription model may be widely welcomed." Monochrome is satisfied that its Bitcoin ETF has attracted more than US$7.6 million (about A$11.4 million) in investment since its development, and believes that Ethereum ETFs will also be successful in the Australian market with a better regulatory environment.
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