Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Cryptocurrency

Invesco Files With SEC for BTC Strategy ETF

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

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 (BTC, -1.8%) futures and other assets related thereto.

  • In a filing Thursday Invesco stressed that the ETF will not directly invest in bitcoin,
  • 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 of 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 Chair 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.
source of news:coindesk

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...