Australia will launch a spot ether ETF following the launch of a spot Bitcoin ETF in August. The ETF will allow in-kind and cash redemptions. Monochrome will launch Australia’s first spot ether (ETH) exchange-traded fund (ETF) on Tuesday. The Monochrome Ethereum ETF (IETH), will debut at 10:00 local time. The ether fund created by Australian crypto investment firm, Monochrome, comes after the launch of its spot bitcoin ETF in August. As of October 10, the Bitcoin ETF fund held 165 bitcoin (BTC) worth just over $10 million. Similar to the spot crypto ETFs in Hong Kong, IETH will allow both cash and in-kind applications and redemptions for investors, meaning that investors can buy into and cash out of the fund with ether. As of October 10, Hong Kong’s spot bitcoin and ether ETFs hold net assets of $262.97 million and $35.07 million, respectively. By contrast, U.S.-listed ETFs held bitcoin worth $58.66 billion ether worth $6.74 billion, according to SoSoValue. Several countries have approved listings of spot crypto ETFs after the launch of the funds in the U.S. in January, though all have been significantly smaller in scale than their U.S. counterparts. Last week, South Korea’s news1 also reported that the country’s Financial Services Commission would consider allowing crypto ETFs.