Monochrome Asset Management, in partnership with Vasco Trustees Limited, has officially applied to list the Monochrome Ethereum exchange-traded fund (ETF) on Cboe Australia, the company shared in a Thursday press release. Monochrome expects a decision before the end of this month.

Designed to passively hold Ethereum (ETH), Monochrome’s proposed product aims to provide retail investors with a regulated method to invest in the world’s second-largest crypto asset by market capitalization. If approved, the ETF will be listed under the IETH ticker, said the firm.

The introduction of IETH is set to expand the variety of regulated investment options in crypto assets for Australian investors. It will follow the earlier rollout of the company’s flagship product, the Monochrome Bitcoin ETF (IBTC), also recognized as Australia’s first ETF that holds Bitcoin directly.

As of September 4, IBTC’s Bitcoin holdings were valued at around $11.3 million, according to an update on its website.

The IETH fund will also feature dual access, allowing both cash and in-kind transactions for investors. Pending approval, Monochrome anticipates that IETH will be accessible through major brokerage platforms.