Invesco Files for Bitcoin ETF: Will It Be Approved?

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Invesco, an independent investment management company, has filed with the Securities and Exchange Commission (SEC) for a Bitcoin (BTCUSD) exchange traded fund (ETF) that will invest in Bitcoin futures and cryptocurrency exchange traded products (ETPs).

The Atlanta-based company, which filed its application on Aug. 5, is the latest investment firm in a growing list to clamor for an ETF that will enable greater liquidity in the cryptocurrency ecosystem. There are more than a dozen firms in that list, and Invesco, which has more than $1.5 trillion worth of assets under management, is among the largest. Given recent precedence, Invesco might also become among the first firms to gain approval for a Bitcoin ETF.

Key Takeaways

  • Independent investment management firm Invesco filed for a Bitcoin ETF last week.
  • The fund will not invest directly in the cryptocurrency and will put money in CME Bitcoin futures contracts and crypto…

Read full article at www.investopedia.com