Invesco Galaxy Ether ETF Is New Step To Fuel Ether’s Breakthrough

Key Points:

• Invesco to launch direct Ether ETF, Invesco Galaxy Ether ETF, bypassing Ether futures.
• Galaxy Digital Funds to aid Ether transactions for the ETF, highlighting Ethereum’s investment appeal.

Invesco, a global fund giant overseeing approximately $1.6 trillion in assets, has revealed its intentions to launch the Invesco Galaxy Ether ETF, according to a recent filing.

Invesco Enters Invesco Galaxy Ether ETF Amid Crypto Surge

Invesco Galaxy Ether ETF will focus on holding Ether directly, differentiating itself from the upcoming wave of Ether futures ETFs set to debut soon.

Galaxy Digital Funds will serve as the execution agent for Invesco Galaxy Ether ETF, facilitating the purchase and sale of Ether by the trust. This move aligns with the growing trend of financial institutions recognizing the value of Ethereum as a viable investment option alongside Bitcoin.

In a similar vein, Ark Invest and 21Shares had previously unveiled plans for their own spot Ether ETF on September 6th. VanEck, which initially filed for a spot Ether ETF back in 2021, still maintains an active filing with the US Securities and Exchange Commission (SEC). Additionally, Hashdex is pursuing a fund that blends Ether futures and spot Ether exposures.

US SEC Keeps Watchful Eye as Bitcoin ETF Decisions

The SEC’s stance on cryptocurrency-related financial products has been notable. While it recently delayed its review of applications from BlackRock, Invesco, and others seeking to establish the first spot Bitcoin ETF in the US, it also postponed decisions regarding applications from Bitwise and Valkyrie. The regulator’s concerns about investor protection and past incidents of scams and market manipulation have been central to these delays.

As interest in cryptocurrencies continues to surge, Invesco’s entry into the direct Ether ETF space signifies a growing acceptance of digital assets within the traditional financial industry.

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