On September 29, asset management firms Invesco and Galaxy Digital made applications for an Ethereum spot Exchange-traded fund (ETF). This development was revealed by Bloomberg ETF analyst James Seyffart via X (formerly Twitter). While the application had not yet appeared in the SEC's public database at the time of the report, Seyffart's disclosure indicated their intent.
An Invesco spokesperson refrained from confirming the application, citing their inability to comment on products still in the registration process. Cointelegraph reached out to Galaxy Digital for comment but did not receive an immediate response.
Invesco and Galaxy Digital now join a growing group of investment managers seeking regulatory approval for a spot Ethereum ETF. Just a couple of days prior, on September 27, the SEC had postponed its decision on ARK 21Shares and VanEck's previous filings, extending the deadline to December 25-26. The SEC stated that this extension was necessary to provide ample time for the consideration of the proposed rule changes and associated issues.
While a spot Ethereum ETF remains pending, a futures-based Ethereum ETF could soon become a reality, with preparations underway by investment firms to add ETH futures instruments to their portfolios. For instance, VanEck announced its Ethereum Strategy ETF (ticker EFUT), set to be listed on the Chicago Board Options Exchange in the coming days.
Valkyrie is also entering the space by offering Ethereum futures exposure through its existing Bitcoin Strategy ETF, now renamed the Valkyrie Bitcoin and Ethereum Strategy ETF. This will enable investors to access both Ethereum and Bitcoin futures within a single package.
Bitwise has taken a similar path, filing an updated prospectus for its equally weighted Bitcoin and Ethereum futures ETF on September 28, with expectations of going live next week. Additionally, ProShares has sought to collaborate with Kelly ETF and Hashdex to introduce Ethereum ETF futures in the near future, as Seyffart reported. The excitement surrounding the launch of a futures ETF has contributed to Ethereum's current trading price of $1,666.
