Credit: Original article published by CryptoPotato.

Invesco, a U.S. investment management firm with over $1 trillion in assets under management (AUM), has joined the growing list of firms looking to launch cryptocurrency-focused exchange traded funds (ETFs).

  • In an SEC filing on Wednesday (June 9, 2021), Invesco revealed that it was planning to launch two crypto-based ETFs. They include the Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF.
  • According to an excerpt from the document:

“The Fund will allocate its assets in the same proportion as the Underlying Index (i.e., under normal circumstances, the Fund will invest approximately 85% of its assets in securities of the Equity Component, 10% in the Futures Component and 5% in the ETP and Trust Component).”

  • While most applications seek to directly invest in cryptocurrency, Invesco’s does not seek a direct crypto investment.

“The Fund will not invest directly in cryptocurrencies or crypto assets directly and will not invest in initial coin offerings. The Fund may, however, have indirect exposure to crypto assets by virtue of its investments in companies that use one or more crypto assets as part of their business activities or that hold crypto assets as proprietary investments.”

  • The U.S. SEC has, to date, not approved any Bitcoin ETF applications, having rejected several proposals in the past, citing market manipulation and volatility.
  • As reported by CryptoPotato in April, the American regulator postponed its decision on the VanEck Bitcoin ETF till June.
  • With other Bitcoin ETFs still pending the SEC’s decision, Invesco’s plan not to directly invest in crypto could get the regulator to grant its approval within a shorter timeframe.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



Comments are closed


Our Other Projects - Premium Domain Names. - Social Network - Mid-century Paris NFTs, tokenized on the WAX blockchain. - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible. - Ultra-Priviate DEX. - Classic Automobile News.