• BlackRock, Invesco, and WisdomTree have all filed to launch Bitcoin ETFs in the US.
• Invesco was also interested in launching a Bitcoin Futures ETF back in 2021.
• The “Invesco Physical Bitcoin” ETN (ticker: BTIC) provides “physically secured access” to Bitcoin’s performance.
BlackRock Files for a BTC Spot ETF in the US
The world’s largest asset manager, BlackRock, has recently submitted an application to the US Securities and Exchange Commission (SEC) to introduce a BTC Spot exchange-traded fund (ETF). This is another step towards providing American investors with secure access to cryptocurrency investments through regulated products.
Invesco Reactivates Its Attempts To Launch A BTC Sport ETF
Invesco – an American investment company with over $1.4 trillion of assets under management – is also making attempts to launch a Bitcoin Spot exchange-traded fund (ETF) in the United States. The company had initially filed for it back in 2021 when it collaborated with Galaxy Digital but it abandoned these intentions at the end of 2021 and focused on a product that allows customers to invest in the primary cryptocurrency based on its actual market price.
WisdomTree Also Submits Its Application For A BTC Spot ETF
Another US finance giant, WisdomTree, has also submitted an application to the SEC for launching their own BTC Spot ETF. This comes days after BlackRock’s filing which brings us one step closer towards providing American investors with secure access to crypto investments through regulated products.
The “Invesco Physical Bitcoin” ETN
In addition to their attempts at launching a BTC Sport ETF, Invesco has already introduced a product in Europe called the “Invesco Physical Bitcoin” ETN (ticker: BTIC). This product provides physically secured access to Bitcoin’s performance as opposed to investing based on its actual market price as is done with most other crypto products.
Conclusion
It appears that more and more financial giants are joining forces with cryptocurrency companies in order to provide American investors with secure access to crypto investments through regulated products; this is an exciting time for those involved! We can only hope that these applications will be approved by the SEC so that everyone can benefit from them soon enough!