Asset managers Invesco and Galaxy Digital have reportedly filed for a spot Ether (ETH) exchange-traded fund (ETF) on September 29. The news was disclosed by Bloomberg ETF analyst James Seyffart on X. However, the official filing had not yet been uploaded to the U.S. Securities and Exchange Commission’s (SEC) public database at the time of the report.
A spokesperson for Invesco declined to confirm the application, stating that they cannot comment on products that are still being registered. Cointelegraph reached out to Galaxy for confirmation but did not receive an immediate response.
The filing by Invesco and Galaxy adds them to the growing list of investment managers seeking regulatory approval for a spot ETH ETF. The SEC recently delayed decisions on previous applications from ARK 21Shares and VanEck, extending the deadline until December 25-26. The SEC stated that it requires more time to consider the proposed rule change and the issues raised therein.
While a spot Ether ETF may not be available for a while, futures-based Ether ETFs could be available as soon as next week. Investment firms such as VanEck and Valkyrie have announced their plans to launch Ether futures ETFs. VanEck’s Ethereum Strategy ETF, tickered EFUT, will be listed on the Chicago Board Options Exchange in the coming days. Valkyrie will offer exposure to Ether futures through its existing Bitcoin Strategy ETF, which has been rebranded as Valkyrie Bitcoin and Ether Strategy ETF.
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Bitwise, Proshares, and Kelly ETFs are also preparing to launch futures Ether ETFs. Bitwise submitted an updated prospectus for their equal-weight Bitcoin and Ether futures ETF, which is expected to go live next week. Proshares and Kelly ETFs have also applied for futures Ether ETFs and are partnering with Hashdex to deliver them in the coming days.
At the time of writing, Ether is trading at $1,666, driven by the enthusiasm surrounding the debut of futures ETFs.
In conclusion, asset managers Invesco and Galaxy Digital have reportedly filed for a spot Ether ETF, joining a growing line of investment managers seeking regulatory approval for such a product. While a spot Ether ETF may take some time to become available, futures-based Ether ETFs from VanEck, Valkyrie, Bitwise, and others are expected to launch as soon as next week. The enthusiasm surrounding these developments has led to an increase in Ether’s price.
