- In a filing Thursday Invesco stressed that the ETF will not invest in bitcoin directly.
- Instead, it will seek to have full exposure to bitcoin futures and at times may have exposure to other investment vehicles, including bitcoin ETFs listed outside the U.S. and investment trusts such as Grayscale Bitcoin Trust (Grayscale is a subsidiary of CoinDesk's parent company Digital Currency Group).
- According to Invesco's filing, the fund is "non-diversified," thus is not required to meet diversification requirements under the Investment Company Act of 1940.
- SEC Chairman Gary Gensler has been vocal about regulation of the crypto industry in recent days, including the possibility of approving a crypto ETF, for which the agency has received well over a dozen applications.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.