Invesco Defers Launch of Blockchain ETF in India

Invesco is deferring the launch of a blockchain exchange-traded fund (ETF) in India due to regulatory uncertainty, the company said in a press release on Wednesday.

Indian lawmakers have been meeting with representatives from the crypto industry in the past few days to mull a new legislative framework for crypto.
The fund manager said that in light of these ongoing discussions, it is important to understand all aspects before making long-term investment decisions.
CoinShares and Invesco Asset Management India were set to launch the vehicle between Nov. 24 and Dec. 8 this year.
The fund would not directly invest in bitcoin or crypto, but on an index of 50 listed companies with crypto exposure, such as Galaxy Digital and Tesla.
Invesco halted its effort to launch a bitcoin futures ETF in the U.S. in October, just a day before its competitor ProShares opened the first bitcoin futures ETF started trading on the New York Stock Exchange.

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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