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Invesco, A $364 Billion Exchange Traded Fund (ETF) Manager Files For Bitcoin ETF

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Invesco filed Bitcoin Exchange traded fund (ETF) application with Securities and exchange commission of America (SEC). A Bloomberg expert believes Invesco rushed to file this application to be ahead of other companies.


Invesco, which is $364 Billion ETF manager, is the latest institution to apply for a Bitcoin ETF. According to Law 40 of the SEC, the ETF Manager applied for a Bitcoin Strategy ETF. The ETF will include Bitcoin futures, GBTC Grayscale shares and a Canadian Purpose Bitcoin ETF.

Eric Balchunas (Senior ETF Analyst at Bloomberg), tweeted that Invesco had applied for a Bitcoin Strategy ETF. The document states that the ETF was filed on August 5.




Eric Balchunas Said:

“Invesco filing for a Bitcoin Strategy ETF under 40 Act (to satisfy Gensler) that will hold futures, GBTC and Canada bitcoin ETFs. Rare 6am filing = rushed it out. Won’t be surprised if we see 5-10 of these by Friday night.

Basically the SEC’s hang up w 40 Act could end up funneling billions into derivatives, GBTC (which is a major reason ETF needed!) as well as up north into another country when the ppl just want an ETF that holds bitcoin directly.”

 

Bloomberg reported on June 10 that Invesco intends to apply for Bitcoin ETF for SEC approval.

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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