Invesco, a $364 billion ETF manager has become the latest institutional giant to file for a Bitcoin ETF in the US. The ETF manager filed for a Bitcoin Strategy ETF under Act 40 with the US SEC. The said ETF would hold Bitcoin Futures, Grayscale’s $GBTC shares, and Canadian Purpose Bitcoin ETF.
The Bitcoin Strategy ETF would not directly invest in Bitcoin and rather focus its investment towards the futures market. The official filing read,
“The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing all or substantially all of its assets in exchange-traded futures contracts on bitcoin and Collateral investments (as defined below). The Fund will not invest directly in bitcoin. The Fund may also invest to a lesser extent in exchange-traded products (“ETPs”) and private investment trusts traded over-the-counter that provide exposure to or directly hold bitcoin (collectively, the “Bitcoin-Related Assets”).”
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