Alternative | Digital Assets

Invesco Galaxy Ethereum ETF

Ticker: QETH

Product Details

Invesco Galaxy Ethereum ETF (the “Trust”) is an exchange-traded product that issues common shares of beneficial interest (the “Shares”) that trade on Cboe BZX (“Cboe” or the “Exchange”) under the ticker symbol “QETH”. The Trust’s investment objective is to reflect the performance of the spot price of ether as measured using Lukka Prime Ethereum Reference Rate (the “Benchmark”), less the Trust’s expenses and other liabilities.

as of 09/30/2024 09/30/2024

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Lukka Prime Ethereum Reference Rate (USD) 13.74 54.48 -4.64 70.85 N/A -25.01
Fund History (%)
Fund NAV N/A N/A N/A N/A N/A -25.06
Fund Market Price N/A N/A N/A N/A N/A -25.03
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Lukka Prime Ethereum Reference Rate (USD) 13.74 54.48 -4.64 70.85 N/A -25.01
Fund History (%)
Fund NAV N/A N/A N/A N/A N/A -25.06
Fund Market Price N/A N/A N/A N/A N/A -25.03

This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

 

as of 10/11/2024 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
IVZETHUSD PHYSICAL ETHER 100.00

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
09/30/2024 49 35 0 0 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
09/30/2024 49 14 0 0 0 0 0

Fund Inception : 07/23/2024

Premiums/Discounts

 Risk & Other Information

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 ether 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 ether or restrict the use of ether or the operations of the Ethereum network or venues on which ether 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 ether may be irretrievable.  As a result, any incorrectly executed ether transactions could adversely affect an investment in the Trust.