{"id":15309,"date":"2021-08-05T11:51:59","date_gmt":"2021-08-05T11:51:59","guid":{"rendered":"http:\/\/ci0289e8caf00025a3"},"modified":"2021-08-05T11:51:59","modified_gmt":"2021-08-05T11:51:59","slug":"invesco-bitcoin-etf-filing","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/invesco-bitcoin-etf-filing","title":{"rendered":"$364 Billion Investment Manager Invesco Files For Bitcoin ETF"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Independent investment firm Invesco, which currently operates 233 ETFs in the U.S., quietly applied for a Bitcoin ETF on Thursday. <\/p>\n<p><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1418144\/000119312521236682\/d209327d485apos.htm\" target=\"_blank\" rel=\"noopener\">The filing<\/a> for a Bitcoin Strategy ETF falls under the 40 Act, a notable move that follows public recommendations by SEC Chairman <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-sec-gary-gensler-aspen-forum\">Gary Gensler<\/a>. Gensler spoke of the potential paths to a Bitcoin ETF earlier this week, at the time stating that he believes the act \u201cprovides significant investor protections\u201d and that it will be used to evaluate applications.<\/p>\n<p>Invesco is the first firm to file after the preferences expressed by Gensler. Eric Balchunas, senior ETF analyst for Bloomberg <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1423231637345669122\" target=\"_blank\" rel=\"noopener\">noted<\/a> on Twitter that it was a \u201crare 6am filing = rushed it out. Won\u2019t be surprised if we see 5-10 of these by Friday night.\u201d <\/p>\n<p>Noted in bold on the filing is that \u201cthe Fund will not invest directly in bitcoin.\u201d The fund\u2019s strategy is to provide exposure to the bitcoin price largely through exchange-traded futures, and to a lesser extent, exchange traded products, and private investment trusts that hold bitcoin.<\/p>\n<p>The ETF would largely provide price exposure to bitcoin futures, Grayscale Bitcoin Trust, as well as several Canadian Bitcoin ETFs. <\/p>\n<p>Invesco\u2019s filing is just one among a series of funds seeking Bitcoin ETF approval in the United States. Notably, <a href=\"https:\/\/bitcoinmagazine.com\/business\/goldman-sachs-to-offer-a-note-tied-to-an-etf-capable-of-investing-in-bitcoin\">Goldman Sachs<\/a>, <a href=\"https:\/\/bitcoinmagazine.com\/business\/bny-mellon-service-provider-gbtc\">Grayscale Bitcoin Trust<\/a>, and <a href=\"https:\/\/bitcoinmagazine.com\/press-releases\/viridi-funds-launches-rigz-etf\">Viridi Funds<\/a> have all recently filed for or begun to offer investment vehicles tied to Bitcoin ETFs. <\/p>\n<p>A <a href=\"https:\/\/bitcoinmagazine.com\/markets\/what-a-bitcoin-etf-means-for-adoption\">Bitcoin ETF<\/a> would give a massive boost to adoption, providing Bitcoin price exposure to millions of Americans. <\/p>\n<p>If approved, the Invesco ETF is proposed to become effective 75 days after its filing.&nbsp;<\/p>\n<p><em>Image via Invesco website<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Independent investment firm Invesco, which currently operates 233 ETFs in the U.S., quietly applied for a Bitcoin ETF on Thursday.<\/p>\n","protected":false},"author":2936,"featured_media":15310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15309","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"author_data":{"id":2936,"name":"Alex Mcshane","nicename":"bitcoin-journalist-alex-mcshane","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/3dd6bbed938cbadeed734dfff7b3964c2a43e2784e2d9ead80b8d5476f8209f1?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/screen-shot-2021-08-05-at-75121-am.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2936"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=15309"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/15310"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=15309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=15309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=15309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}