Invesco, a Oughout. S. investment management firm with over $1 trillion in assets under management (AUM), has joined the growing list of firms seeking to launch cryptocurrency-focused exchange traded funds (ETFs).
- In an SEC submitting on Wednesday (June 9, 2021), Invesco revealed it turned out 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 in the document:
“ The Account will allocate its property in the same proportion since the Underlying Index (i. e., under normal circumstances, the particular Fund will invest approximately 85% of its assets in securities of the Equity Element, 10% in the Futures Element and 5% in the ETP and Trust Component). ”
- While most applications seek in order to directly invest in cryptocurrency, Invesco’ s does not seek a direct crypto investment.
“ The particular Fund will not invest straight in cryptocurrencies or crypto assets directly and will not really invest in initial coin choices. The Fund may, however , have indirect exposure to crypto assets by virtue from the investments in companies that use one or more crypto assets as part of their business activities or that hold crypto property as proprietary investments. ”
- The U. S. SECURITIES AND EXCHANGE COMMISSION’S has, to date, not accepted any Bitcoin ETF apps, having rejected several plans in the past, citing market manipulation and volatility.
- As reported by CryptoPotato in April, the American regulator postponed its choice on the VanEck Bitcoin ETF till June.
- With other Bitcoin ETFs nevertheless pending the SEC’ t decision, Invesco’ s program not to directly invest in crypto could get the regulator to grant its approval within a shorter timeframe.