Invesco and Galaxy apply for a spot Ethereum ETF


Asset managers Invesco and Galaxy Digital have jointly filed with the US Securities and Exchange Commission (SEC) to launch an Ethereum-based ETF.

According to the document, the instrument will reflect the spot price of the second largest cryptocurrency by capitalization. ETH will be stored by a separate custodian, who has not yet been named.

On September 27, the SEC delayed a decision on similar applications from 21Shares and VanEck until the end of the year. The regulator is also considering a request from Hashdex.

Ethereum futures ETFs could appear as early as next week. Digital asset manager Bitwise announced the launch of the Bitwise Ethereum Strategy ETF and Bitwise Bitcoin and Ether Equal Weight Strategy ETF on October 2.

Applications for similar instruments were also submitted by VanEck, Valkyrie, 21Shares and ARK Invest, Grayscale Investments and others.

In July, the SEC accepted applications for spot Bitcoin ETFs from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree. Franklin Templeton later joined them.

So far, the regulator has not given any approval for the launch of spot ETFs for digital gold. The Commission made an exception for similar products based on futures for the first cryptocurrency from ProShares and Valkyrie Investments.

Recall that on August 31, the SEC postponed its decision on several Bitcoin ETFs until at least mid-October. At the end of September, the regulator postponed consideration of applications to January 2024.

Found an error in the text? Select it and press CTRL+ENTER

ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!

Leave a Reply