Invesco Galaxy Ethereum ETF Files S-1/A for Public Offering

TL;DR

Invesco Galaxy ETH ETF filed S-1/A, paving way for public trading. Get ready.

AI Summary

Invesco Galaxy Ethereum ETF filed an S-1/A on June 21, 2024, as a pre-effective amendment to its registration statement. This filing, with registration number 333-274767, details the proposed public offering of shares in the ETF, which aims to track the price of Ether. The ETF is incorporated in Delaware and managed by Invesco Capital Management LLC.

Why It Matters

This filing is a crucial step towards the public trading of an Ethereum-based ETF, potentially increasing accessibility and investment in Ether for a broader range of investors.

Risk Assessment

Risk Level: medium — The investment is subject to the volatility and risks associated with the cryptocurrency market, specifically Ethereum, and regulatory uncertainties.

Key Numbers

• 333-274767 — Registration Number (Identifies the specific SEC registration for this ETF.)

Key Players & Entities

• Invesco Galaxy Ethereum ETF (company) — Registrant
• 333-274767 (dollar_amount) — SEC Registration Number
• June 21, 2024 (date) — Filing Date
• Invesco Capital Management LLC (company) — Manager
• Adam Henkel, Esq. (person) — Contact Person
• Ropes & Gray LLP (company) — Legal Counsel

FAQ

Key Financial Figures

• $100,000 — ransaction. The Trust was seeded with $100,000 on June 17, 2024 through the sale of Sh
• $25.00 — or purchased 4,000 Shares at a price of $25.00 per Share. Accordingly, as of the marke
• $1.235 billion — ny upon the earliest of (i) when it has $1.235 billion or more in annual revenues; (ii) when i
• $1.0 billion — of 1934; (iii) when it issues more than $1.0 billion of non-convertible debt over a three-ye

Filing Documents

• d470525ds1a.htm (S-1/A) — 965KB
• d470525dex33.htm (EX-3.3) — 173KB
• d470525dex51.htm (EX-5.1) — 11KB
• d470525dex81.htm (EX-8.1) — 12KB
• d470525dex103.htm (EX-10.3) — 52KB
• d470525dex105.htm (EX-10.5) — 148KB
• d470525dex106.htm (EX-10.6) — 161KB
• d470525dex107.htm (EX-10.7) — 69KB
• d470525dex108.htm (EX-10.8) — 45KB
• d470525dex231.htm (EX-23.1) — 1KB
• d470525dexfilingfees.htm (EX-FILING FEES) — 30KB
• g470525dsp275.jpg (GRAPHIC) — 4KB
• g470525g00m03.jpg (GRAPHIC) — 7KB
• g470525g00s87.jpg (GRAPHIC) — 47KB
• g470525g0530230709885.jpg (GRAPHIC) — 3KB
• g470525g0620221134597.jpg (GRAPHIC) — 2KB
• g470525g0620221134958.jpg (GRAPHIC) — 1KB
• g470525g0621092530945.jpg (GRAPHIC) — 2KB
• filename20.htm (COVER) — 7KB
• 0001193125-24-165897.txt ( ) — 1767KB

RISK FACTORS

RISK FACTORS 11 ETHER AND THE ETHEREUM MARKET 45 THE TRUST 53 CALCULATION OF NAV 59 ADDITIONAL INFORMATION ABOUT THE TRUST 61 THE TRUSTS SERVICE PROVIDERS 64 CUSTODY OF THE TRUSTS ASSETS 67 THE PRIME BROKER 71 FORM OF SHARES 72 TRANSFER OF SHARES 73 PLAN OF DISTRIBUTION 74 CREATION AND REDEMPTION OF SHARES 75

USE OF PROCEEDS

USE OF PROCEEDS 81 82 CONFLICTS OF INTEREST 82 DUTIES OF THE SPONSOR 82 LIABILITY AND INDEMNIFICATION 84 VOTING BY SHAREHOLDERS; MANAGEMENT 87 BOOKS AND RECORDS 90 90 FISCAL YEAR 90 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 90 LEGAL MATTERS 91 EXPERTS 91 MATERIAL CONTRACTS 91 U.S. FEDERAL INCOME TAX CONSEQUENCES 91 PURCHASES BY EMPLOYEE BENEFIT PLANS 96 INFORMATION YOU SHOULD KNOW 97 WHERE YOU CAN FIND MORE INFORMATION 97 INVESCO CAPITAL MANAGEMENT LLC PRIVACY NOTICE 98 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 100 APPENDIX A GLOSSARY OF DEFINED TERMS A-1

INFORMATION NOT REQUIRED IN PROSPECTUS

PART II INFORMATION NOT REQUIRED IN PROSPECTUS II-1 -i- Table of Contents This Prospectus contains information you should consider when making an investment decision about the Shares of the Trust. You may rely on the information contained in this Prospectus. The Trust and the Sponsor have not authorized any person to provide you with different information and, if anyone provides you with different or inconsistent information, you should not rely on it. This Prospectus is not an offer to sell the Shares in any jurisdiction where the offer or sale of the Shares is not permitted. The Shares of the Trust are not registered for public sale in any jurisdiction other than the United States (the U.S.). -ii- Table of Contents This Prospectus includes forward-looking statements that generally relate to future events or future performance. In some cases, you can identify forward-looking statements by terminology such as may, will, should, expect, plan, anticipate, believe, estimate, predict, potential or the negative of these terms or other comparable terminology. All statements (other than statements of historical fact) included in this Prospectus that address activities, events or developments that will or may occur in the future, including such matters as movements in the digital asset markets, the Trusts operations, the Sponsors plans and references to the Trusts future success and other similar matters, are forward-looking statements. These the use of ether and other digital assets, including the systems used by the Sponsor and the Trusts Ethereum Custodian in their provision of services to the Trust, current conditions and expected future developments, as well as o

View Full Filing

View this S-1/A filing on SEC EDGAR