Immersion cooling is nothing new but we've never seen it in a mass market product. This may change in the future as Cooler Master showed off a new Mini-ITX case at Computex that is designed for this type of cooling.
The company claims this case will hit the market but declined to share a specific launch date or suggested retail pricing. Basically, you fill the entire enclosure with a non-conductive fluid like oil or the (uber-expensive) 3M Novec fluid.
The case has a metal exterior and features an acrylic container that houses all the hardware. At Computex, Cooler Master demonstrated a system with a video card without a cooler but the processor still used watercooling. The fluid in the case hit a temperature of 58°C.
There are some disadvantages though. While Cooler Master figured out a way to let you connect a display, it recommends to use wireless mice and keyboards. Furthermore, there's no support for other external connections like USB or audio ports.