{"id":315800,"date":"2021-08-05T19:00:00","date_gmt":"2021-08-05T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/invesco-files-with-sec-for-bitcoin-etf-without-direct-btc-exposure\/"},"modified":"2021-08-05T19:00:00","modified_gmt":"2021-08-05T16:00:00","slug":"invesco-files-with-sec-for-bitcoin-etf-without-direct-btc-exposure","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/invesco-files-with-sec-for-bitcoin-etf-without-direct-btc-exposure\/","title":{"rendered":"# Invesco files with SEC for Bitcoin ETF without direct BTC exposure"},"content":{"rendered":"

“# Invesco files with SEC for Bitcoin ETF without direct BTC exposure <\/strong>”
\n<\/p>\n

Atlanta-based investment company Invesco is planning to launch a new Bitcoin (BTC) exchange-traded fund, or ETF, that will not invest in BTC directly.<\/p>\n

On Wednesday, Invesco filed<\/a> an app<\/a>lication with the United States Securities and Exchange Commission, or SEC, to list a new investment product called Bitcoin Strategy ETF.<\/p>\n

The Invesco Bitcoin Strategy ETF seeks to achieve its investment objective by investing \u201call or substantially all of its assets\u201d in Bitcoin futures as well as exchange-traded products, or ETPs, and Bitcoin-linked private investment trusts like the Grayscale Bitcoin Trust. The fund may also \u201cat times\u201d invest in Bitcoin ETFs listed outside of the United States, the filing notes.<\/p>\n

The fund also plans to invest its remaining assets directly in cash, cash-like instruments or high-quality securities as part of collateral investments. The collateral may consist of high-quality securities including U.S. government securities like bills, notes and bonds, as well as money market funds and corporate debt securities. \u201cThe collateral is designed to provide liquidity, serve as margin or otherwise collateralize the subsidiary\u2019s investments in Bitcoin futures,\u201d Invesco noted.<\/p>\n

According to the filing, the new fund is \u201cnon-diversified,\u201d meaning that it will not be required to meet certain diversification requirements under the Investment Company Act of 1940.<\/p>\n

Related:\u00a0Bitcoin ETF not happening in 2021, says Wilshire Phoenix co-founder<\/em><\/strong><\/p>\n

As previously reported by Cointelegraph, Invesco has been actively involved in the adoption of crypto and blockchain-related ETFs in recent years. In March 2019, the company launched a blockchain ETF on the London Stock Exchange, initially targeting 48 companies involved in the blockchain technology<\/a> industry. As of early July 2021, the fund has amassed over $1 billion in assets since inception.<\/p>\n

Invesco\u2019s latest Bitcoin ETF joins a long list of cryptocurrency ETFs waiting for the SEC\u2019s approval, with the authority not having approved a single Bitcoin ETF so far. The authority has continued delaying decisions on multiple crypto ETFs this year after rejecting a series<\/a> of Bitcoin ETFs previously. Other jurisdictions have seen more success in adopting crypto ETFs, with a number of Bitcoin ETFs already trading in countries like Canada.<\/p>\n