Invesco Galaxy Ethereum ETF Files S-1/A Amendment

TL;DR

Invesco Galaxy Ethereum ETF filed S-1/A, paving way for ETH ETF launch.

AI Summary

Invesco Galaxy Ethereum ETF filed an S-1/A amendment on July 8, 2024, for its registration statement. The ETF, incorporated in Delaware, aims to offer investors exposure to Ether. The filing details the company's principal executive offices located at 3500 Lacey Road, Suite 700, Downers Grove, IL 60515, with a business phone number of 800-983-0903.

Why It Matters

This filing is a step towards the potential public offering of an Ethereum-based ETF, which could significantly impact cryptocurrency investment accessibility and market dynamics.

Risk Assessment

Risk Level: medium — The investment is tied to the volatile cryptocurrency market, specifically Ether, and regulatory uncertainties surrounding digital assets.

Key Numbers

• 333-274767 — SEC File Number (Identifies the registration statement with the SEC.)
• 6221 — SIC Code (Indicates the industry classification for the registrant.)

Key Players & Entities

• Invesco Galaxy Ethereum ETF (company) — Registrant
• Ethereum (company) — Underlying asset
• 3500 Lacey Road, Suite 700, Downers Grove, IL 60515 (dollar_amount) — Principal executive offices address
• 800-983-0903 (dollar_amount) — Business phone number
• July 8, 2024 (dollar_amount) — Filing date
• Adam Henkel (person) — Contact person for registrant
• Paulita Pike (person) — Copy to contact
• Ropes & Gray LLP (company) — Legal counsel
• Brian D. McCabe (person) — Copy to contact

FAQ

Key Financial Figures

• $100,000 — ransaction. The Trust was seeded with $100,000 on June 17, 2024 through the sale of 4,
• $25.00 b — of 4,000 Shares at a per-Share price of $25.00 by the Trust to Invesco Ltd. On July 8, 2
• $25.00 — Shares for cash at a per-Share price of $25.00 for a total redemption value of $100,00
• $30.042 — Ltd. created 3,000 shares at a price of $30.042 per Share based on the Benchmark price
• $90,126 — 8, 2024, the Trust had total assets of $90,126, solely represented by ether held in cu
• $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) — 976KB
• d470525dex81.htm (EX-8.1) — 12KB
• d470525dex231.htm (EX-23.1) — 1KB
• d470525dexfilingfees.htm (EX-FILING FEES) — 30KB
• g470525g00m03.jpg (GRAPHIC) — 7KB
• g470525g0620221134597.jpg (GRAPHIC) — 2KB
• g470525g0620221134958.jpg (GRAPHIC) — 1KB
• g470525g0621092530945.jpg (GRAPHIC) — 2KB
• g470525g11s01.jpg (GRAPHIC) — 87KB
• filename11.htm (COVER) — 7KB
• 0001193125-24-176440.txt ( ) — 1167KB

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