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Spot Ethereum ETFs Are Heating Up

September 30, 2023
x min read
Spot Ethereum ETFs Are Heating Up

The pursuit of a spot Ethereum ETF continues to gain momentum.

What’s happening:

  • Galaxy Digital (TSX: GLXY) has teamed up with Invesco to apply for a spot Ethereum ETF
  • This is the fourth spot Ethereum ETF to be filed with the SEC

Why it matters:

Going deeper:

  • Galaxy Digital, led by crypto evangelist Mike Novogratz, was one of the first crypto companies to ever publicly list on a major Canadian stock exchange
  • Since then they have become a leader in accelerating institutional adoption and accessibility for crypto as a whole

The fine print:

  • The SEC has continued to be ambiguous about their stance on both spot Bitcoin ETFs and spot Ethereum ETFs
  • Currently, none of the pending applications for spot Bitcoin or spot Ethereum ETFs have been approved by the SEC

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