Invesco Files With SEC for Bitcoin Strategy ETF

Invesco stressed that the ETF will not invest in bitcoin directly.

AccessTimeIconAug 5, 2021 at 11:30 a.m. UTC
Updated Sep 14, 2021 at 1:36 p.m. UTC

Atlanta-based asset manager Invesco has filed with the U.S. Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) with exposure to bitcoin futures and other related assets.

  • 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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.