Here are the 10-K annual reports from Invesco Galaxy Ethereum ETF (QETH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow QETH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QETH filings page.
Invesco Galaxy Ethereum ETF is a Delaware statutory trust whose objective is to mirror the spot price of ether, using the Lukka Prime Ethereum Reference Rate, minus expenses and liabilities. The fund is passively managed and simply holds ether rather than trading or hedging it.
Shares trade on Cboe BZX under the symbol QETH and are issued in 5,000‑share creation baskets to authorized participants. Market value of common equity held by non‑affiliates was $22,943,690, and there were 873,000 common shares of beneficial interest outstanding as of January 31, 2026.
Coinbase Custody Trust Company holds the ETF’s ether in segregated cold storage, while BNY Mellon handles administration, transfer agency, and cash custody. The sponsor, Invesco Capital Management LLC, charges a unified 0.25% annual fee on daily net assets, which is the trust’s only recurring expense.
The report emphasizes extensive risks: extreme ether price volatility that could drive the share value toward zero, regulatory uncertainty in U.S. crypto policy, cybersecurity threats to both the Ethereum protocol and custodians, scaling and congestion issues on the Ethereum network, and the possibility that shares trade at a premium or discount to NAV.