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.”
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. pic.twitter.com/S0pMtOKwYJ
— Eric Balchunas (@EricBalchunas) August 5, 2021
Bloomberg reported on June 10 that Invesco intends to apply for Bitcoin ETF for SEC approval.
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