The last company to join the Bitcoin ETF rush launched by BlackRock was Invesco, which manages nearly $1.5 trillion in assets.
Managing a $1.4 trillion asset, Invesco applied for a Bitcoin ETF in 2021. However, this application did not work out in favor of Invesco. After the application of the world’s largest asset manager BlackRock’s Bitcoin ETF, Invesco has applied for a new ETF.
Invesco Reiterates Bitcoin ETF Application
Asset manager and investment firm Invesco has re-applied for a spot Bitcoin ETF.
Invesco, which applied for a Bitcoin ETF in cooperation with Galaxy Digital in 2021, thought that this application would not be concluded towards the end of the year, so it did not pursue it. Invesco also applied for a futures Bitcoin ETF in the same period.
BlackRock’s Bitcoin ETF application, which created a bombshell effect on the agenda, also made Invesco appetite. These days, when investment companies submit their applications one after another, a Bitcoin ETF application came from Invesco.
Invesco argued that the lack of spot Bitcoin ETFs in the market pushes investors towards risky options. The company cited the bankruptcy of FTX and the collapse of Voyager as an example. Invesco stated that if the Bitcoin ETF is approved, the spot Bitcoin market may become healthier in terms of investor protection.
BlackRock’s filing, which manages $10 trillion in assets, is driving the SEC back into a corner and the market’s appetite.
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