Performance data is updated to 31 May 2026.
Monochrome Ethereum ETF (IETH) — Review & Analysis
IETH is Monochrome's spot Ethereum ETF, the cheapest ETH ETF on the ASX at 0.25% p.a. — 20bp below the established 0.45% Ethereum cohort (EETH and QETH). The fund tracks the AUD price of Ethereum via physical ETH custody (not futures), mirroring the structure of Monochrome's sister product IBTC. AUM is reported as $0.00M as at May 2026 in the platform feed, reflecting an early-stage data gap on the wrapper.
For Australian investors wanting low-cost spot Ethereum exposure, IETH is the fee leader. Over a long holding period the 20bp gap versus EETH and QETH compounds meaningfully — particularly relevant given many investors hold ETH as a multi-cycle play.
The investment case for ETH is fundamentally different from Bitcoin. Where BTC functions as a digital store of value with fixed supply, Ethereum is the infrastructure layer beneath decentralised finance, stablecoins, NFTs and on-chain financial applications. ETH's value derives from network usage, gas fees and staking yields — characteristics closer to a platform business than a commodity. ETH has historically been more volatile than BTC during both rallies and drawdowns.
The trade-off for the lower fee is AUM scale and potentially wider execution spreads compared to the larger 0.45%-tier products. The fund is unhedged. Our crypto ETFs on the ASX guide covers the case for ETH alongside Bitcoin.
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Best Bitcoin & Crypto ETFs Australia 2026: Every Fund on the ASX Compared
Every Bitcoin and crypto ETF on the ASX compared. 11 funds, $679M AUM, fees from 0.25%, BTC vs ETH performance — independent, data-driven.
Crypto ETFs on the ASX: Bitcoin, Ethereum, and Everything In Between
There are now 11 crypto ETFs on the ASX and Cboe Australia, collectively holding $818 million in assets. Three types: six Bitcoin spot ETFs ($580M combined), three Ethereum spot ETFs ($65M), and two crypto equities/blockchain ETFs ($173M). Together they represent the first time Australian retail and SMSF investors can get meaningful crypto exposure without ever touching a crypto exchange.
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| VBTC | VanEck Bitcoin ETF | -38.05% |
| CRYP | Crypto Innovators ETF | +36.79% |
| EBTC | Bitcoin ETF | -37.94% |
| IBTC | Monochrome Bitcoin ETF | -37.95% |
| QBTC | BetaShares Bitcoin Futures ETF | -38.31% |
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Last updated: January 2026
