Invesco has filed an application with the SEC to trade the The Invesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF. To date, the SEC has not approved any of the dozen or so Bitcoin ETF applications that it has received and has rejected several.
Both ETFs will generally invest at least 80% of assets in the assets that comprise the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Index, which includes stocks of companies “materially engaged” in cryptocurrencies, cryptocurrency mining or buying, and enabling technologies, plus cryptocurrency futures, exchange-trade products and private investment trusts like the Grayscale Bitcoin Trust that are linked to cryptocurrencies and trade over the counter. Invesco has joined a small, but growing number of firms sponsoring ETFs which invest indirectly in cryptocurrencies and are therefore more likely to receive approval by the Securities and Exchange Commission than ETFs that invest directly in Bitcoin or their cryptocurrencies.
The News Highlights
- How Invesco and others are getting around the SEC’s Crypto ETF reluctance
- Check the latest News news updates and information about business, finance and more.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week