Invesco is planning to launch a pair of cryptocurrency-focused exchange-traded funds, even as regulators have repeatedly delayed the approval of a U.S. Bitcoin ETF.
About 85% of the Invesco Galaxy Blockchain Economy ETF and the Invesco Galaxy Crypto Economy ETF will be in crypto-linked equities, according to a filing with the Securities and Exchange Commission. The rest of the portfolio will be in other trusts and funds that hold cryptocurrencies.
At least 12 issuers, including Fidelity Investments, Grayscale Investments and WisdomTree Investments, are currently pursuing a Bitcoin ETF, and the SEC has acknowledged at least six applications, according to Bloomberg Intelligence. That means it has a limited amount of time to either approve or reject the proposals.
Invesco is the latest issuer to get creative as the SEC hits pause. An application for the Volt Bitcoin Revolution ETF was filed this week, which would target companies exposed to Bitcoin. Meanwhile, the Bitwise Crypto Industry Innovators ETF (BITQ), which tracks companies such as crypto miners and payment firms, launched in May.
Waiting for the Bitcoin ETFs
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