Spot Ethereum ETF Application From Invesco Galaxy

Invesco Galaxy

Asset managers continue to pursue digital asset products; on September 29, it was reported that Galaxy Digital and Invesco filed for spot ETH indicators below $1,666 ETF. James Seyffart, an analyst for Bloomberg ETFs, announced the submission on X, even though it wasn’t yet available in the SEC’s public record when this article was written. A representative for Invesco Galaxy denied verification of the application, claiming that statements about products that are currently undergoing registration cannot be made. Invesco Galaxy was contacted by us, but no answer was received right away.

Invesco Galaxy has added their names to the growing list of sponsors requesting regulatory clearance for a spot in ETH ETF with the submission on September 29.

Post Application From Invesco Galaxy, Deadline Extended Upto End Of December

The deadline for judgments on earlier petitions from VanEck and ARK 21Shares was extended by the SEC on September 27 and is now set for December 26–27. “The Commission considers it reasonable to assign an additional amount of time within which it must decide on the suggested rule modification so that they will have enough opportunity to examine the suggested rule amendment and the problems raised therein,” the SEC stated.

However, Ether ETFs ought to be accessible as early as next week, even though a spot Ether ETF might not be accessible for some time. Investment companies began preparing to make additional ETH futures instruments to their portfolios on September 28. For instance, VanEck released a statement on their impending ES ETF, denoted by the ticker EFUT. Valkyrie is another business launching a futures cryptocurrency ETF. Through its current BS ETF, which has been renamed Ether Strategy and Valkyrie Bitcoin ETF, the asset management will start providing exposure to certain Ether futures. According to a spokeswoman for Valkyrie, the company’s BS ETF will give investors availability to futures for both bitcoin and ether tickers below $26,883 “under a single wrapper.”