It has been rumored that on September 29th Invesco and Galaxy Digital have submitted an application for an Ethereum spot ETF with the U.S. SEC. Despite this there is a growing trend of asset management companies exploring asset offerings. This information came from Bloomberg ETF expert James Seyffart on X (formerly known as Twitter). However the application was not publicly available in the SECs database at that time. When asked about it Invesco did not confirm the application. Mentioned they cannot comment on ongoing registrations. Cointelegraph is still awaiting a response from Galaxy Digital.
In addition to this filing Invesco and Galaxy are part of a list of firms seeking approval for an Ethereum spot ETF. On September 27th the SEC decided to postpone their decision on applications by ARK 21Shares and VanEck until December 25 26th. The SEC expressed the need for time to review the proposed changes and related issues.
While it may take some time for an Ethereum spot ETF to be approved there is a possibility of launching Ethereum futures based ETFs early, as next week. Investment companies have started preparations to include Ethereum futures in their portfolios since September 28th. For example VanEck announced its upcoming Ethereum Strategy ETF called EFUT, which will soon be listed on the Chicago Board Options Exchange.
Valkyrie is also set to introduce an ETF for futures trading. They will provide access to Ethereum futures through their existing Bitcoin Strategy ETF, now known as the Valkyrie Bitcoin and Ether Strategy ETF. A representative from Valkyrie informed Cointelegraph that this offering will allow investors to invest in both Ethereum and Bitcoin futures in a package.
In news Bitwise recently updated its prospectus for an equally weighted Bitcoin and Ethereum futures ETF on September 28th expected to go live, in the coming week. Seyffart also mentioned that Proshares has applied and Kelly ETFs have partnered with Hashdex to launch futures based Ethereum ETFs
At the time of reporting Ethereums price stood at $1,666, likely influenced by the excitement generated by the introduction of futures based ETFs.