Crypto news

Invesco Galaxy seeks Ether ETF approval.

Invesco and Galaxy Digital continue their pursuit of digital asset offerings, reportedly submitting an application for a spot Ether exchange-traded fund (ETF) on September 29.

The filing, as revealed by Bloomberg ETF analyst James Seyffart on X (formerly Twitter), is yet to be uploaded to the SEC’s public database at the time of writing.

In response to the query, a spokesperson for Invesco chose not to confirm the application, citing the inability to provide comments on products that are currently undergoing registration.

The filing made on September 29 places Invesco and Galaxy alongside a growing list of investment managers pursuing regulatory approval for a spot ETH ETF.

On September 27, the SEC decided to extend the deadline for reviewing previous applications from ARK 21Shares and VanEck, postponing the decision until December 25-26.

The SEC stated, “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.”

Invesco Galaxy – Upcoming Launch of Futures-Based Ether ETFs Signals Growing Investment Demand

While it may take some time for a spot Ether ETF to become available, investment firms are preparing to launch futures-based Ether ETFs as early as next week.

Investment firms have already begun preparing to include ETH futures vehicles in their portfolios.

VanEck serves as one such example, as it recently unveiled its Ethereum Strategy ETF (tickered EFUT), with plans to list it on the Chicago Board Options Exchange in the upcoming days.

Another company entering the futures crypto ETF space is Valkyrie.

The asset manager plans to introduce exposure to Ether futures through its existing Bitcoin Strategy ETF, which has undergone rebranding as the Valkyrie Bitcoin and Ether Strategy ETF.

Bitwise has also submitted an updated prospectus for their equal-weight Bitcoin and Ether futures ETF, expected to go live next week.

Additionally, Proshares has applied for a futures Ether ETF, and Kelly ETFs has partnered with Hashdex to launch their own futures Ether ETFs in the near future.

At the time of writing, Ether is trading positively at $1,666, reflecting the excitement surrounding the upcoming launch of futures ETFs.

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