Invesco postpones launching of Bitcoin Futures ETF
Major US asset management company Invesco said on the 19th that it has decided against launching a Bitcoin Futures ETF, Bloomberg reported Monday.
Invesco is a leading investment company based in Georgia, USA. The company has total asset management worth $1.5 trillion.
A spokesperson told Bloomberg:
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically-backed, digital asset ETF.”
Invesco announced its move a day before ProShares was set to launch its Bitcoin Futures product. Invesco was set to launch its product this Wednesday (20th) before deciding against the offering.
Invesco’s Bitcoin ETFs, like VanEck and Galaxy Digital’s futures ETFs, were planning to invest in CME’s Bitcoin futures, as well as Canadian Bitcoin spot ETFs and Grayscale’s Bitcoin investment trusts (GBTCs).
At this stage, it is unclear why the company has forgone the launch of the much-awaited product. The company has not released any official statement.
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