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In anticipation of a possible approval of their bitcoin ETF by the US regulator, Galaxy Digital and Invesco have jointly applied for the creation of an ethereum spot ETF.
Galaxy Digital Fund and Invesco have updated their joint application to create a spot ETF on ethereum (eth). After VanEck, ARK Invest, Hashdex and Grayscale, Galaxy and Invesco are the fifth to launch an ethereum spot ETF in the US market.
Initially, sources reported on the launch of an application for an ethereum ETF. However, following this, analyst James Seyffart noted that the application for the Galaxy Digital and Invesco ETF was originally filed on September 29. The latest updates were just trying to update the request.
The change in application occurred because ETFs for ethereum futures were recently launched in the United States.
ethereum spot ETFs will have to wait for the soft launch of bitcoin spot ETFs, pending scrutiny from the Securities and Exchange Commission.
Craig Salm, Grayscale Investment Legal Advisor bitcoin-etf-is-a-matter-of-when-not-if” target=”_blank” rel=”noopener”>believe that the emergence of an exchange-traded fund based on the first cryptocurrency is rather “a question of when and not if.” Salm expressed optimism about the launch of the new product since the day before the US Securities and Exchange Commission decided not to appeal the court order to convert GBTC into a bitcoin ETF.
