How Invesco Galaxy is Applying for Spot Ether ETF

Asset Managers Pursue Digital Assets

Asset managers have been actively pursuing digital asset products, and Invesco and Galaxy Digital are reportedly filing for a spot Ether (ETH) exchange-traded fund (ETF) on Sept. 29.

Bloomberg ETF analyst James Seyffart revealed the filing on X (formerly Twitter), even though the application hadn’t been uploaded to the SEC’s public database at the time of writing.

When asked to confirm the application, a spokesperson for Invesco declined to comment, citing that products still being registered cannot be commented on. Cointelegraph reached out to Galaxy but did not immediately receive a response.

Invesco and Galaxy join a growing line of investment managers that are seeking regulatory approval for a spot ETH ETF. On Sept. 27, the SEC delayed decisions on previous applications from ARK 21Shares and VanEck, extending the deadline until Dec. 25–26. The SEC stated that it needs more time to consider the proposed rule change and the issues raised therein.

Ether Futures ETFs to Launch Soon

VanEck’s Ethereum Strategy ETF, ticker symbol EFUT, is set to be listed on the Chicago Board Options Exchange in the coming days. This is one of the first futures-based Ether ETFs to be available, and investment firms are gearing up to add ETH futures vehicles to their portfolios.

Valkyrie is also launching a futures crypto ETF. Its existing Bitcoin Strategy ETF has been rebranded as the Valkyrie Bitcoin and Ether Strategy ETF, and it will allow investors access to both Ether and Bitcoin (BTC) futures.

Bitwise has submitted an updated prospectus for their equal-weight Bitcoin and Ether futures ETF, which is expected to go live next week. Additionally, Proshares has applied and Kelly ETFs has partnered with Hashdex to deliver futures Ether ETFs soon.

The excitement surrounding the launch of these futures ETFs is reflected in Ether’s current price of $1,666.