Galaxy Asset Management, which claims to be one of the world’s largest digital assets and blockchain investment managers, in partnership with Invesco Ltd. (NYSE: IVZ), a global provider of exchange-traded products (ETPs), announced the launch of the Invesco Galaxy Ethereum ETF (QETH).
QETH is a spot ETP that invests directly “in physical Ethereum to offer investors access to the performance of the market price of Ethereum, as measured by the Lukka Prime Ethereum Reference Rate.”
QETH begins trading on the Cboe BZX Exchange, “granting investors access to Ethereum investing.”
QETH offers investors a differentiated and “accessible way of participating in the disruptive ether market.”
It will leverage Invesco’s track record of “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.”
Brian Hartigan, Global Head of ETF and Index Strategy at Invesco, said:
“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. 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.”
Steve Kurz, Global Head of Galaxy Asset Management, said:
“ETH has served as a core asset in crypto portfolios for a long time, driven by the tremendous success of the Ethereum blockchain. 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.”
As covered, Galaxy (TSX: GLXY) claims that it is “a digital asset and blockchain leader providing access to the growing digital economy.”
They 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.”
Their 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 New York City, with global offices across North America, Europe, and Asia.”
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