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Finance

Invesco Defers Launch of Blockchain ETF in India

The fund manager cited regulatory uncertainty; India’s government is discussing new crypto legislation.

By Eliza Gkritsi
AccessTimeIconNov 18, 2021 at 6:51 a.m. UTC
Updated May 11, 2023 at 4:09 p.m. UTC
The Lotus Temple in New Delhi, India. (Matthew TenBruggencate/Unsplash)
The Lotus Temple in New Delhi, India. (Matthew TenBruggencate/Unsplash)

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

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter
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