Asset managers maintain pursuing digital asset merchandise, with Invesco and Galaxy Digital allegedly submitting for a spot Ether (ETH) exchange-traded fund (ETF) on Sept. 29.
Bloomberg ETF analyst James Seyffart disclosed the submitting on X (previously Twitter), regardless that the applying hadn’t been uploaded to the SEC’s public database on the time of writing.
Invesco Galaxy simply filed for a spot Ether ETF, I feel that is the third of 4th considered one of these, must test tho.. pic.twitter.com/SIJVu8VzFk
— Eric Balchunas (@EricBalchunas) September 29, 2023
A spokesperson for Invesco declined to substantiate the applying, stating that merchandise nonetheless being registered can’t be commented on. Cointelegraph reached out to Galaxy however didn’t instantly obtain a response.
With the Sept. 29 submitting, Invesco and Galaxy be part of a rising line of funding managers looking for 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 till Dec. 25–26. “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,” stated the SEC.
Although a spot Ether ETF might not be accessible for some time, futures-based Ether ETFs needs to be accessible as quickly as subsequent week. On Sept. 28, funding corporations began gearing up so as to add ETH futures automobiles to their portfolios. VanEck, for occasion, printed a press release about its upcoming Ethereum Strategy ETF — tickered EFUT — which will be listed on the Chicago Board Options Exchange within the coming days.
Another firm debuting a futures crypto ETF is Valkyrie. The asset supervisor will begin offering exposure to Ether futures by way of its current Bitcoin Strategy ETF, now rebranded as Valkyrie Bitcoin and Ether Strategy ETF. A Valkyrie spokesperson instructed Cointelegraph that the agency’s Bitcoin Strategy ETF will permit traders entry to Ether and Bitcoin (BTC) futures “under one wrapper.”
Likewise, Bitwise submitted an up to date prospectus for their equal-weight Bitcoin and Ether futures ETF on Sept. 28, which can be anticipated to go stay subsequent week. According to Seyffart, Proshares additionally utilized and Kelly ETFs partnered with Hashdex to ship futures Ether ETFs within the coming days.
Ether is buying and selling within the inexperienced on the time of writing at $1,666, pushed by euphoria over the debut of futures ETFs.
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