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Invesco, a major US asset management company, applies for two crypto-related ETFs

Cryptocurrency

Will Invesco also enter?

It has been confirmed that Invesco, a major US asset management company, has submitted a prospectus for crypto assets (virtual currency) and blockchain-related ETFs (Exchange Traded Funds) to the SEC. The situation is that there are a series of application cases using traditional finance.

Invesco, located in Atlanta, Georgia, is a major investment company that manages assets worth 160 billion yen, and is applying for two industry-related ETFs, the “Galaxy Blockchain Economy ETF” and the “Invesco Galaxy Crypto Economy ETF.”

The “Galaxy Blockchain Economy ETF” follows the performance of the original index “Alerian Galaxy Global Blockchain Index”, and the “Invesco Galaxy Crypto Economy ETF” follows the performance of the index “Alerian Galaxy Global Cryptocurrency-Focused Blockchain Index”. Become. These indices have not yet been launched.

The conditions for corporate stocks to be included in each index are as follows:

Alerian Galaxy Global Blockchain Index

  • Cryptocurrency mining company
  • Mining chip provider, mining machine manufacturer
  • Cryptocurrency exchange, custody company
  • Companies that own virtual currency
  • Companies involved in research and development of blockchain technology not related to cryptocurrencies
  • These companies are listed companies (possible outside the United States) and have a market capitalization of at least 5 billion yen, etc.

Alerian Galaxy Global Cryptocurrency-Focused Blockchain Index

  • Cryptocurrency mining company
  • Mining chip provider, mining machine manufacturer
  • Cryptocurrency exchange, custody company
  • Companies that own virtual currency
  • These companies are listed companies (possible outside the United States) and have a market capitalization of at least 5 billion yen, etc.

In addition to stocks (85%), Bitcoin futures (10%) provided by CME and ETP / private placement investment trusts related to virtual currencies (5% in total) will be part of the composition of the two indexes. ETP (listed investment products) also includes exchange-traded funds and index-linked securities, which are virtual currencies traded overseas.

On the other hand, at present, more than 10 Bitcoin ETFs and Ethereum ETFs have been applied for in the United States, but no cases have been approved at this time.

Relation: Bitcoin ETF (Exchange Traded Fund) Latest Information Summary

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Author: Lewis Kikutani
Reference: SEC

Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”

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