Invesco and Galaxy to Launch the Invesco Galaxy Ethereum ETF (QETH)
Invesco (NYSE: IVZ) and Galaxy Asset Management have launched the Invesco Galaxy Ethereum ETF (QETH), a spot ETP investing directly in physical Ethereum. QETH began trading on the Cboe BZX Exchange, offering investors access to Ethereum's market price performance as measured by the Lukka Prime Ethereum Reference Rate. This launch follows the successful introduction of the Invesco Galaxy Bitcoin ETF (BTCO) in January.
QETH aims to provide a differentiated and accessible way for investors to participate in the Ethereum market, leveraging Invesco's expertise in ETPs and Galaxy's deep knowledge of digital asset management. The ETF joins Invesco Galaxy's suite of digital asset products, including BTCO, SATO, and BLKC, offering US investors easier access and additional safeguards for creating varied digital asset portfolios.
Invesco (NYSE: IVZ) e Galaxy Asset Management hanno lanciato l'Invesco Galaxy Ethereum ETF (QETH), un ETP spot che investe direttamente in Ethereum fisico. QETH ha iniziato a essere scambiato sulla Cboe BZX Exchange, offrendo agli investitori l'accesso alla performance di mercato di Ethereum misurata dal Lukka Prime Ethereum Reference Rate. Questo lancio segue l'introduzione di successo dell'Invesco Galaxy Bitcoin ETF (BTCO) a gennaio.
QETH mira a fornire un modo differenziato e accessibile per gli investitori di partecipare al mercato di Ethereum, sfruttando l'esperienza di Invesco negli ETP e la profonda conoscenza di Galaxy nella gestione delle attività digitali. L'ETF si unisce alla suite di prodotti di attivi digitali di Invesco Galaxy, inclusi BTCO, SATO e BLKC, offrendo agli investitori statunitensi un accesso semplificato e ulteriori garanzie per la creazione di portafogli di attivi digitali variegati.
Invesco (NYSE: IVZ) y Galaxy Asset Management han lanzado el Invesco Galaxy Ethereum ETF (QETH), un ETP spot que invierte directamente en Ethereum físico. QETH comenzó a cotizar en la Cboe BZX Exchange, ofreciendo a los inversores acceso al rendimiento del precio de mercado de Ethereum medido por el Lukka Prime Ethereum Reference Rate. Este lanzamiento sigue a la exitosa introducción del Invesco Galaxy Bitcoin ETF (BTCO) en enero.
QETH tiene como objetivo proporcionar una forma diferenciada y accesible para que los inversores participen en el mercado de Ethereum, aprovechando la experiencia de Invesco en ETPs y el profundo conocimiento de Galaxy en la gestión de activos digitales. El ETF se une a la suite de productos de activos digitales de Invesco Galaxy, incluyendo BTCO, SATO y BLKC, ofreciendo a los inversores estadounidenses un acceso más fácil y salvaguardias adicionales para crear carteras de activos digitales variadas.
인베스코(NYSE: IVZ)와 갤럭시 자산 관리가 인베스코 갤럭시 이더리움 ETF (QETH)를 출시했습니다. 이는 실제 이더리움에 직접 투자하는 스팟 ETP입니다. QETH는 Cboe BZX 거래소에서 거래를 시작하며, 투자자들에게 Lukka Prime Ethereum Reference Rate에 의해 측정된 이더리움의 시장 가격 성과에 접근할 수 있게 합니다. 이번 출시는 1월에 성공적으로 도입된 인베스코 갤럭시 비트코인 ETF (BTCO) 다음에 이루어졌습니다.
QETH는 투자자들이 이더리움 시장에 참여할 수 있는 차별화되고 접근 가능한 방법을 제공하는 것을 목표로 하며, 인베스코의 ETP 전문성과 갤럭시의 디지털 자산 관리에 대한 깊은 이해를 활용합니다. 이 ETF는 BTCO, SATO 및 BLKC를 포함한 인베스코 갤럭시의 디지털 자산 제품군에 추가되어, 미국 투자자들에게 다양한 디지털 자산 포트폴리오를 구축할 수 있는 보다 쉬운 접근성과 추가 안전 장치를 제공합니다.
Invesco (NYSE: IVZ) et Galaxy Asset Management ont lancé l'Invesco Galaxy Ethereum ETF (QETH), un ETP spot investissant directement dans l'Ethereum physique. QETH a commencé à être négocié sur la Cboe BZX Exchange, offrant aux investisseurs un accès à la performance du prix du marché de l'Ethereum, mesurée par le Lukka Prime Ethereum Reference Rate. Ce lancement fait suite à l'introduction réussie de l'Invesco Galaxy Bitcoin ETF (BTCO) en janvier.
QETH vise à fournir une manière différenciée et accessible pour les investisseurs de participer au marché de l'Ethereum, en tirant parti de l'expertise d'Invesco en matière d'ETP et de la connaissance approfondie de Galaxy en matière de gestion d'actifs numériques. L'ETF rejoint la suite de produits d'actifs numériques d'Invesco Galaxy, y compris BTCO, SATO et BLKC, offrant aux investisseurs américains un accès plus facile et des garanties supplémentaires pour créer des portefeuilles d'actifs numériques variés.
Invesco (NYSE: IVZ) und Galaxy Asset Management haben den Invesco Galaxy Ethereum ETF (QETH) gestartet, ein Spot-ETP, das direkt in physisches Ethereum investiert. QETH begann den Handel an der Cboe BZX Exchange und bietet Anlegern Zugang zur Marktpreisperformance von Ethereum, gemessen am Lukka Prime Ethereum Reference Rate. Dieser Launch folgt der erfolgreichen Einführung des Invesco Galaxy Bitcoin ETF (BTCO) im Januar.
QETH zielt darauf ab, eine differenzierte und zugängliche Möglichkeit für Anleger zu bieten, am Ethereum-Markt teilzunehmen, wobei Invescos Fachkompetenz in ETPs und Galaxys umfangreiche Kenntnisse im Bereich der digitalen Vermögensverwaltung genutzt werden. Der ETF erweitert die Produktpalette von Invesco Galaxy im Bereich digitaler Vermögenswerte, einschließlich BTCO, SATO und BLKC, und bietet US-Investoren einen einfacheren Zugang sowie zusätzliche Sicherheitsmaßnahmen zur Erstellung vielfältiger digitaler Vermögensportfolios.
- Launch of Invesco Galaxy Ethereum ETF (QETH) on Cboe BZX Exchange
- Direct investment in physical Ethereum, offering exposure to its market price performance
- Expansion of Invesco's digital asset product line, following successful Bitcoin ETF launch
- Partnership with Galaxy Asset Management, leveraging their expertise in digital assets
- None.
Insights
The launch of the Invesco Galaxy Ethereum ETF (QETH) is a significant development in the financial market. This ETF provides a novel way for investors to gain direct exposure to Ethereum, a major digital asset. ETFs—Exchange-Traded Funds—are traditionally valued for their ability to offer liquidity, diversification and ease of trading. By entering the Ethereum space, Invesco and Galaxy are tapping into a growing interest in cryptocurrency investments. Historically, digital assets have shown high volatility, which can be both an opportunity and a risk for investors. The fact that QETH is traded on the Cboe BZX Exchange, a reputable platform, adds a layer of trust and accessibility.
For long-term investors, this move is especially compelling because it signifies a step towards mainstream acceptance of digital assets. It also provides a convenient way for traditional investors to diversify their portfolios with crypto exposure without the complexity of managing digital wallets. However, potential investors should be aware of the inherent risks in the cryptocurrency market, such as regulatory changes, market volatility and technological developments.
This launch also reflects the strategic vision of Invesco and Galaxy to stay ahead in the innovative financial products space. Given the successful track record of their earlier Bitcoin ETF, the Ethereum ETF could attract substantial interest, possibly driving up both trading volumes and market capitalization for Ethereum. Overall, this product could introduce more liquidity into the Ethereum market, potentially stabilizing it over time.
From a technological perspective, the launch of the QETH ETF aligns with the increasing institutional interest in blockchain and digital assets. Ethereum, the underlying asset of QETH, is a decentralized platform that supports smart contracts and decentralized applications (dApps). These features make Ethereum a cornerstone of the blockchain ecosystem. The Ethereum blockchain's adaptability and widespread use in various industries—from finance to supply chain management—add a layer of intrinsic value to the asset itself.
Moreover, the use of the Lukka Prime Ethereum Reference Rate to measure the market price of Ethereum signifies a commitment to transparency and accuracy. This reference rate is aligned with GAAP and IFRS guidelines, which are widely recognized accounting standards. By utilizing an established reference rate, Invesco and Galaxy are ensuring that the ETF's valuation is both fair and reliable.
This launch could also encourage further technological innovation and development within the Ethereum network. Increased investment can lead to more funding for blockchain projects, driving advancements in scalability, security and usability. For tech-savvy investors, this ETF represents an attractive proposition to capitalize on the growing utility and adoption of Ethereum.
The introduction of QETH by Invesco and Galaxy signifies a strategic expansion into the digital asset market, catering to the rising demand for cryptocurrency investments. According to recent market trends, institutional investors are increasingly seeking exposure to cryptocurrencies, driven by their high return potential and diversification benefits. The success of the Invesco Galaxy Bitcoin ETF earlier this year sets a positive precedent, suggesting strong investor appetite for such products.
The timing of this launch is particularly noteworthy. With the current market dynamics, where traditional asset classes are experiencing lower returns, digital assets offer an attractive alternative. Furthermore, the launch on the Cboe BZX Exchange ensures that the ETF is accessible to a broad range of investors, including those who are more comfortable with traditional stock exchanges.
For retail investors, QETH offers a convenient and regulated way to invest in Ethereum, mitigating some of the risks associated with direct cryptocurrency ownership. However, potential investors should consider the volatility of the crypto market and the possibility of significant price swings. Long-term investors may find QETH a valuable addition to their portfolios, given the growing acceptance and integration of Ethereum in various sectors.
QETH offers investors a differentiated and accessible way of participating in the disruptive ether market. It will leverage Invesco's track record of pioneering innovative ETPs and Galaxy's deep institutional-grade infrastructure and significant expertise in digital asset management.
The launch of QETH builds on Galaxy's and Invesco's successful joint track record following the launch of the Invesco Galaxy Bitcoin ETF (BTCO) in January of this year.
"Today's launch of Invesco Galaxy Ethereum ETF will leverage Invesco's experience in managing ETPs and Galaxy's expertise with digital assets to provide investors with efficient and secure exposure to Ethereum," says Brian Hartigan, Global Head of ETF and Index Strategy at Invesco. "QETH joins Invesco Galaxy ETP's BTCO, SATO and BLKC in providing easier access and additional safeguards to US investors looking to create a varied digital assets portfolio with ETFs."
"ETH has served as a core asset in crypto portfolios for a long time, driven by the tremendous success of the Ethereum blockchain," said Steve Kurz, Global Head of Galaxy Asset Management. "With the launch of QETH, we are excited to offer investors exposure to this burgeoning asset class in a format that is familiar, safe, and easy to trade. By combining our unrivalled collective experience in developing best-in-class investment solutions across both traditional and digital asset markets, Invesco and Galaxy Asset Management are well-positioned to continue at the forefront of enabling institutional exposure to the most value-creative corners of the digital asset ecosystem."
To view the full prospectus for the Invesco Galaxy Ethereum ETF, please visit this link: https://connect.rightprospectus.com/Invesco/TVT/46148D107/P?site=ETF
1 Galaxy Asset Management is not affiliated with Invesco. Galaxy Asset Management is the Galaxy Division that operates Galaxy Digital Funds, the execution agent of QETH.
2 The Lukka Prime Ethereum Reference Rate represents a fair market value for Ethereum that is aligned to GAAP and IFRS guidelines.
About Invesco Ltd.
Invesco Ltd. (Ticker NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. Invesco managed US
About Galaxy
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in
The Fund is speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. The Fund is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.
Shares in the Fund are not FDIC insured, may lose value and have no bank guarantee.
This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing.
The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.
The Trust will not participate in the proof-of-stake validation mechanism of the Ethereum network (i.e., the Trust will not "stake" its ether) to earn additional ether or seek other means of generating income from its ether holdings.
Ether has historically exhibited high price volatility relative to more traditional asset classes, which may be due to speculation regarding potential future appreciation in value.
The value of the Trust's investments in Ethereum could decline rapidly, including to zero.
The further development and acceptance of the Ethereum network, which is part of a new and rapidly changing industry, is subject to a variety of factors that are difficult to evaluate. The slowing, stopping or reversing of the development or acceptance of the network may adversely affect the price of ether and therefore an investment in the Shares.
Currently, there is relatively limited use of ether in the retail and commercial marketplace in comparison to relatively extensive use as a store of value, contributing to price volatility that could adversely affect an investment in the Shares.
Regulatory changes or actions may alter the nature of an investment in bitcoin or restrict the use of ether or the operations of the Ethereum network or venues on which bitcoin trades. For example, it may become difficult or illegal to acquire, hold, sell or use ether in one or more countries, which could adversely impact the price of ether.
In the past, flaws in the source code for ether have been discovered, including those that resulted in the theft of users' ether. Several errors and defects have been publicly found and corrected, including those that disabled some functionality for users and exposed users' personal information. Discovery of flaws in or exploitations of the source code that allow malicious actors to take or create money in contravention of known network rules has occurred.
The Trust's returns will not match the performance of ether because the Trust incurs the Sponsor Fee and may incur other expenses.
The Market Price of shares may reflect a discount or premium to NAV.
The price of ether may be impacted by the behaviour of a small number of influential individuals or companies.
The Ethereum network and ether face scaling obstacles that can lead to high fees or slow transaction settlement times, and attempts to increase the volume of transactions may not be effective.
Competition from central bank digital currencies ("CDBCs") and other digital assets could adversely affect the value of ether and other digital assets.
Prices of ether may be affected due to stablecoins, the activities of stablecoin users and their regulatory treatment.
A temporary or permanent "fork" in the Ethereum network could adversely affect an investment in the Shares. A disruption of the internet may affect the use of Ethereum and subsequently the value of the Shares.
Risks of over or under regulation in the digital asset ecosystem could stifle innovation, which could adversely impact the value of the Shares.
Future regulations may require the Trust and the Sponsor to become registered, which may cause the Trust to liquidate.
The tax treatment of ether and other digital assets is uncertain and may be adverse, which could adversely affect the value of an investment in the Shares.
The venues through which ether trades are relatively new and may be more exposed to operations problems or failure than trading venues for other assets.
The Trust is subject to the risks due to its concentration in a single asset.
Ether spot trading venues are not subject to the same regulatory oversight as traditional equity exchanges.
Ethereum transactions are irrevocable and stolen or incorrectly transferred bitcoin may be irretrievable. As a result, any incorrectly executed bitcoin transactions could adversely affect an investment in the Trust.
The opinions expressed herein are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco or Galaxy investment professionals.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares.
Invesco Distributors, Inc. is the US distributor for Invesco's retail products and private placements, and Invesco Capital Management LLC is the investment adviser for ETFs. Both entities are indirect, wholly owned subsidiaries of Invesco Ltd.
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Media Relations Contact: Stephanie Diiorio, 212-278-9037, stephanie.diiorio@invesco.com
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