Invesco exec reveals reasons for dropping Bitcoin futures ETF
Invesco withdrew its Bitcoin Strategy ETF due to the inability to offer exposure to a mix of futures swaps and spot Bitcoin. After dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in October, United States $1.6-trillion asset manager Invesco has disclosed the reasons behind its decision.Anna Paglia, global head of ETFs and indexed strategies at Invesco, said that the biggest reason for dropping the filing was that the U.S. Securities and Exchange Commission only approved Bitcoin ETFs with 100% exposure to Bitcoin futures.The Invesco Bitcoin Strategy ETF was designed....
Related News
The investment management giant Invesco has launched a metaverse fund that will invest in a myriad of startups focused on metaverse technology, a Citywire report detailed on Monday. “We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach,” Tony Roberts, Invesco’s fund manager, explained. Invesco Reveals Metaverse Fund — Investment Manager Plans to Invest in Small, Medium, Large-Cap Startups On Monday, Citywire’s Chris Sloley published a report explaining that the fund manager Invesco (NYSE: IVZ) launched....
Bitwise's CIO explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF. Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) futures-based exchange-traded fund (ETF) amid a number of such products launching in the United States.While dropping its futures-linked ETF, the firm is still bullish on a spot Bitcoin ETF, which is designed to track Bitcoin directly, Bitwise chief investment officer Matt Hougan announced on Nov. 10.Hougan said that Bitwise’s spot filing remains intact and the firm will continue its efforts to launch....
Invesco’s spot Bitcoin ETN joins 25 other similar products on Deutsche Boerse’s digital exchange, Xetra. Soon after dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in the United States, asset manager Invesco is launching a spot BTC exchange-traded note (ETN) in Europe.On Nov. 29, German stock market operator Deutsche Boerse officially announced the listing of the Invesco Physical Bitcoin ETN on its digital stock exchange, Xetra. The new product will trade under the ticker symbol BTIC.Admitted to the regulated market of the Frankfurt Stock Exchange, the new ETN....
The Invesco Bitcoin Strategy ETF may “at times” invest in Bitcoin ETFs listed outside of the United States. Atlanta-based investment company Invesco is planning to launch a new Bitcoin (BTC) exchange-traded fund, or ETF, that will not invest in BTC directly.On Wednesday, Invesco filed an application with the United States Securities and Exchange Commission (SEC) to list a new investment product called Bitcoin Strategy ETF.The Invesco Bitcoin Strategy ETF seeks to achieve its investment objective by investing “all or substantially all of its assets” in Bitcoin futures and exchange-traded....
All gas, no brakes. That’s the SEC’s sentiment regarding the potential launch of initial Bitcoin futures ETFs that could hit the market as early as next week. After fielding nearly a decade’s worth of crypto ETF applications, it’s without question a landmark moment. Let’s take a look at what we know, what it means, and what could be in store in the days to come. Give ‘Em The Green Light According to an initial report from Bloomberg, Bitcoin ETF applications submitted from ProShares and Invesco Ltd. have no substantial hurdles to overcome with SEC....