Invesco Ltd, an independent investment management firm based in the United States, has announced the introduction of two Exchange Traded Funds.
The Invesco Alerian Galaxy Crypto Economic ETF (SATO) and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) will expose firms and investment vehicles operating in digital currencies and blockchain throughout the world, according to the firm.
The Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index will be tracked by the SATO ETF, giving exposure to mining companies, crypto infrastructure tech suppliers, and even digital currency purchasers. The BLKC ETF, on the other hand, will seek to follow the Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index, as well as all of the SATO portfolios, with a concentration on research businesses non-crypto currency blockchain organizations. The Cboe Global Markets has listed both the SATO and BLKC ETFs.
“Today’s launch opens up a new way for investors to access this fast-growing asset class, combining exposure to key companies in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly holds digital assets, all within the ETF wrapper,” said John Hoffman, Head of Americas, ETFs & Indexed Strategies at Invesco. “The combined, broad expertise Alerian and Galaxy bring to these Invesco ETFs is a unique advantage and we are excited to align with both firms on a combined long-term vision around the potential digital assets and blockchain can bring to clients’ investment outcomes.”
The SEC does not want to make a mistake with exchange-traded fund products since they are one of the most careful investing products. However, many concerns have been identified as causes for the present delays in licensing an ETF product, including but not limited to the anonymity of crypto transactions and the coin’s environmental implications. The United States has noticeably trailed behind its rivals in this respect.
While ETFs that track firms with exposure to digital currencies have lately gained favor with the SEC, the search for a genuine Bitcoin ETF continues.