Invesco Asset Management India, the Indian subsidiary of US asset management company Invesco has announced plans to launch an investment trust in India to invest in crypto ETFs of US-listed companies, in partnership with British crypto investment company CoinShares.
The Invesco CoinShares Global Blockchain ETF Fund of Fund will allow Indian investors to seek exposure in international blockchain-related companies. The fund, which is investing in up to 50 blockchain companies, has been approved by India’s financial regulator Securities and Exchange Board of India (SEBI).
In addition, the ETF fund will follow the index of 50 publicly traded companies with exposure to crypto assets, including US Coinbase, Tesla, MicroStrategy, and Square.
Invesco had applied for a Bitcoin futures ETF in the United States but has reportedly postponed the launch on October 19. Meanwhile, in June, the company applied for a crypto industry-related ETF called “Invesco Alerian Galaxy Crypto Economy ETF,” which was listed on the US Cboe in October.
It was recently reported that the Indian government plans to roll out regulations on crypto assets before the budget 2022 in January.