The crypto market has hit September in a bit of a lull, but institutional involvement in the sector continues to bubble away in the background. Aussie spot Bitcoin ETFs hit the nation's biggest stock exchange – the ASX – in July, and investors have steadily accumulated BTC holdings through the past quarter.

Looking to leverage the growing success of spot Bitcoin ETFs Down Under, Monochrome Asset Management announced yesterday it is expanding into the Ethereum spot fund market. The spot Ether fund will launch on the tailwind of the SEC's approval of the asset class in the United States, which has seen a slew of big-name institutions throwing their hats into the ring.

Monochrome Asset Management is already a well-known player in the digital currency sector, having released its spot Bitcoin ETF (IBTC) – which it called "Australia's first…direct holding Bitcoin ETF." The team is now turning its attention to the crypto market's second-biggest project, Ethereum, with the launch of the Monochrome Ethereum ETF. Monochrome has filed an application with the relevant Australian regulatory bodies, and now eagerly awaits approval.

Source: https://cryptonews.com.au/news/monochrome-asset-management-to-launch-ethereum-etf-on-cboe-australia-123198/

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