Invesco and Galaxy Digital Apply for Spot Ether ETF

Invesco and Galaxy Digital applied for Spot Ether ETF

Invesco and Galaxy Digital filed for a spot Ether exchange traded fund (ETF) on September 29. Because of this, asset managers' interest in digital asset products has increased. On September 27, the SEC delayed a decision on ARK 21Shares and VanEck's ETH-ETF applications, extending the deadline to December 25-26. The SEC says that the Commission feels it is appropriate to set a longer period for taking action on the proposed rule changes, which will allow it sufficient time to consider the proposed rule. While spot Ether (ETF) may not be available for some time, futures based Ether should be available by next week. Investment companies like VanEck and Valkyrie are gearing up to offer futures exposure through their respective ETFs, further adding to the excitement around Ethereum in the market. Currently Ether is trading positively at $1,666.