Monochrome Asset Management is making waves with the upcoming launch of its spot Ethereum ETF (IETH) on the Cboe exchange in Australia.
Monochrome Asset Management is making waves with the upcoming launch of its spot Ethereum ETF (IETH) on the Cboe exchange in Australia. The ETF, which will begin trading on Monday, comes hot on the heels of the success of Monochrome's Bitcoin ETF (IBTC), which quickly became one of the top-performing ETFs in the country.
The IETH ETF is designed to be investor-friendly, allowing people to transfer their Ethereum into the ETF without paying capital gains tax, thanks to its special trust structure. While the Australian market may not see the same large inflows as the U.S. ETFs, Monochrome is betting on a growing interest in Ethereum investments.
The ETF will track the CME CF Ether-Dollar Reference price and have a 0.50% management fee, which can be reduced for accredited advisers. Monochrome believes this new ETF will offer an easy and tax-efficient way for investors to get involved in Ethereum, making it an attractive option for many.
Meanwhile, SUI has been one of the standout performers in an otherwise challenging crypto market, with its price surging by 124% over the past month. In a 24-hour timeframe, SUI spiked by 20%, while major tokens like BTC, ETH, BNB, XRP, ADA, and DOT saw a decrease of up to 5%.
One big reason for this massive surge is the announcement that USDC, a major stablecoin, will be launched on the Sui Network. As the second-largest stablecoin, USDC's integration is expected to boost on-chain transactions, sparking optimism among investors.
Additionally, support from a major crypto exchange is helping SUI gain even more attention. Right now, SUI is trading at around $2.01, with all signs pointing to a strong bullish trend. Many believe that SUI could be heading toward a new all-time high soon.
Finally, BlockDAG's presale is heating up fast, with the project closing in on a $100 million milestone. Crypto enthusiasts are racing to secure BDAG coins at what could be the lowest price. With projections suggesting BDAG could hit $20 by 2027, the presale is creating a surge in demand as traders scramble to get in before the opportunity slips away.
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