Ethereum

Invesco Galaxy Ethereum ETF Amended Through 19b-4 Document

Key Points:

Galaxy Digital Funds and Invesco have amended their joint application for an Invesco Galaxy Ethereum ETF.
The proposed Invesco Galaxy Ethereum ETF would directly hold ether, differentiating it from ether futures ETFs.
The launch of Ethereum spot ETFs is dependent on the approval of Bitcoin spot ETFs, which are currently under SEC review.

Galaxy Digital Funds and Invesco have taken a significant step towards launching an Ethereum spot exchange-traded fund (ETF) in the US market. The two firms have submitted an amended 19b-4 document for their Invesco Galaxy Ethereum ETF through CBOE.

Invesco Galaxy Ethereum ETF Amended Through 19b-4 Document 2

Galaxy Digital and Invesco Advance Invesco Galaxy Ethereum ETF Bid

This move follows their initial application filed on September 30th, where Galaxy Digital was designated as the execution agent for the proposed ETF. Unlike various ether futures ETFs, the Invesco Galaxy Ethereum ETF would hold ether directly.

If approved, the Invesco Galaxy Ethereum ETF would be the fifth-spot ETF in the US market, following those from VanEck, ARK Invest, Hashdex, and Grayscale. However, the launch of Ethereum spot ETFs is contingent upon the approval of Bitcoin spot ETFs, which are currently under review by the Securities and Exchange Commission (SEC).

Invesco Reinforce Spot Ethereum ETF Pursuit

Invesco has been actively pursuing cryptocurrency ETFs, having filed for a spot bitcoin ETF in June, shortly after BlackRock’s entry into the race. The firm’s partnership with Galaxy Digital, a leading crypto asset manager, demonstrates its commitment to bringing innovative investment products to the market.

The growing interest in Ethereum spot ETFs reflects the increasing demand for direct exposure to Ethereum, the second-largest cryptocurrency by market capitalization. With the SEC’s ongoing scrutiny of cryptocurrency ETFs, the approval timeline for these products remains uncertain. However, the continued efforts of firms like Galaxy Digital and Invesco signal a growing acceptance of cryptocurrency ETFs within the traditional financial landscape.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.