[Lunch Briefing] Australia Launches Ethereum Spot ETF… Spot and Cash Redemption Methods Applied

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Bitcoin (BTC) price chart as of 12:10 pm on the 15th based on Bithumb.


Major virtual assets are on the rise.

As of 12:10 pm on the 15th, based on Bithumb, BTC fell 0.39% from the previous day to 88,056,000 won. Ethereum (ETH) rose 0.06% to 3,519,000 won, Binance Coin (BNB) rose 0.25% to 789,000 won, Solana (SOL) rose 1.40% to 207,700 won, and Ripple (XRP) rose 1.51% to 739 won.



At the same time, on CoinMarketCap, BTC recorded $65,714.91, up 5.12% from the previous day. ETH rose 7.32% to $2,626.59, BNB rose 3.38% to $589.67, SOL rose 6.00% to $157.32, and XRP rose 4.12% to $0.5518.

The total market capitalization of virtual assets increased by 4.57% from the previous day to about $2.29 trillion (about 3,146.7 trillion won). The Crypto Fear and Greed Index of alternative.me, a virtual asset data company, rose 17 points from the previous day to 65 points, indicating 'greed'.

The first ETH physical exchange-traded fund (ETF) will be launched in Australia.

According to CoinDesk on the 14th (local time), Australian asset management company Monochrome will start trading the 'Monochrome Ethereum ETF (IETH)' on the 15th. IETH can be redeemed for cash and physical assets like the virtual asset physical ETF in Hong Kong. This means that investors can purchase the fund with ETH and cash it out.

Monochrome launched the first BTC physical ETF in Australia in August. As of the 10th, Monochrome's BTC physical ETF holds over $10 million worth of BTC.
Jae-heon Choi, Reporter
chsn12@decenter.kr
< Copyright holder ⓒ Decenter, Unauthorized reproduction and redistribution prohibited >

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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