Monochrome Asset Management has launched Australia’s first exchange-traded fund (ETF) that directly holds Ether, with assets under management reaching $176,600. On Oct. 15, the Monochrome Ethereum ETF (IETH) went live on the Sydney-based equities exchange Cboe Australia with total net assets reaching $176,600 (262,500 Australian dollars) by 2:00 pm local time, according to Cboe Australia. The fund has a management fee of 0.50% and offers in-kind applications and redemptions — allowing transactions in either cash or Ether (ETH), and is the only dual-access spot Ether ETF in Australia. BitGo and…