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Invesco Drops Pursuit of Bitcoin Futures ETF Filing Before Debut
Summary: Invesco Ltd. has dropped its pursuit of a futures-backed Bitcoin exchange-traded fund hours before the first such product is set to launch on a U.S. exchange. “We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to ...
Invesco Ltd. has dropped its pursuit of a futures-backed Bitcoin exchange-traded fund hours before the first such product is set to launch on a U.S. exchange.
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically backed, digital asset ETF,” an Invesco spokesperson said in a statement.
The decision comes on the eve before the ProShares Bitcoin Strategy ETF (ticker BITO) begins trading. Bitcoin has rallied about 40% this month amid anticipation that approval of an ETF will lead to greater investor acceptance of the digital currency.
By Amy Liu
Tags: Bitcoin Futures,ETF,Invesco
Link: Invesco Drops Pursuit of Bitcoin Futures ETF Filing Before Debut [Copy]
