11 months ago
Investment firms Invesco and Galaxy Digital allegedly filed for a spot Ethereum ETF with the U.S. SEC connected Sept. 29.
Asset managers support pursuing integer plus products, arsenic Invesco and Galaxy Digital allegedly filed for a spot Ethereum (ETH) exchange-traded money (ETF) connected Sept. 29.
Bloomberg ETF expert James Seyffart disclosed the filing connected X (formerly Twitter), adjacent though the exertion hasn’t been uploaded to the SEC’s nationalist database astatine the clip of writing.
Invesco Galaxy conscionable filed for a spot Ether ETF, I deliberation this is the 3rd of 4th 1 of these, person to cheque tho.. pic.twitter.com/SIJVu8VzFk
— Eric Balchunas (@EricBalchunas) September 29, 2023A spokesperson for Invesco declined to corroborate the application, stating that products inactive being registered cannot beryllium commented on. Cointelegraph reached retired to Galaxy, but did not instantly person a response.
With the Sept. 29 filing, Invesco and Galaxy articulation a increasing enactment of concern managers seeking regulatory support for a spot ETH ETF. On Sept. 27, the SEC delayed decisions connected erstwhile applications from ARK 21Shares and VanEck, extending the deadline until Dec. 25-26. “The Commission finds it due to designate a longer play wrong which to instrumentality enactment connected the projected regularisation alteration truthful that it has capable clip to see the projected regularisation alteration and the issues raised therein,” said the SEC.
Although a spot Ether ETF whitethorn not beryllium disposable for a while, futures-based Ether ETFs should beryllium disposable arsenic soon arsenic adjacent week. On Sept. 28, concern firms started gearing up to adhd ETH futures vehicles to their portfolios. VanEck, for instance, published a connection astir its upcoming Ethereum Strategy ETF — tickered EFUT — that will beryllium listed connected the Chicago Board Options Exchange successful the coming days.
Another institution debuting a futures crypto ETF is Valkyrie. The plus manager will statesman offering vulnerability to Ether futures done its existing Bitcoin Strategy ETF, present rebranded arsenic Valkyrie Bitcoin and Ether Strategy ETF. A Valkyrie spokesperson told Cointelegraph that the firm’s Bitcoin Strategy ETF volition let investors entree to Ether and Bitcoin (BTC) futures “under 1 wrapper.”
Likewise, Bitwise submitted an updated prospectus for their equal-weight Bitcoin and Ether futures ETF connected Sept. 28, which is besides expected to spell unrecorded adjacent week. According to Seyffart, Proshares besides applied and Kelly ETFs partnered with Hashdex to present futures Ether ETFs successful the coming days.
Ether is trading successful the greenish astatine the clip of penning astatine $1,666, driven by euphoria implicit the debut of futures ETFs.
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