Two More Asset Managers File to Launch a BTC ETF in the US

Invesco — a US investment firm with over $1.4 trillion in assets under management — has reinvigorated its bid to launch a Bitcoin Spot trading fund in the US. WisdomTree – another US financial giant – has filed a similar request with the Securities and Exchange Commission.

The latest effort comes just days after the world’s largest asset manager filed a BTC Spot ETF in the United States with a securities regulator.

Invesco rejoins the race

Eric Balchonas — analyst at Bloomberg Intelligence — open On his Twitter account, Invesco has renewed its ambitions to launch a BTC Sport ETF in the United States. The company’s initial filing came in 2021 when it teamed up with Galaxy Digital.

Invesco was also interested in issuing a bitcoin futures ETF. However, it is up These intentions at the end of 2021 to focus on a product that allows customers to invest in the underlying cryptocurrency based on the actual market price.

Although the investment firm is still waiting for a positive nod from the SEC, it has already done so foot Producer in Europe. “Invesco Physical Bitcoin” ETN (Stock Ticker: BTIC) emerged after a collaboration with Deutsche Borse and provides “physically secure access” to Bitcoin’s performance, albeit a derivative.

WisdomTree’s efforts

The entity is also headquartered in New York to request Permission from the SEC to launch a BTC Spot ETF. In the event of regulatory approval, the fund will be listed on the Cboe BZX Exchange under the symbol BTCW.

The watchdog previously rejected WisdomTree’s attempt to launch a BTC ETF, citing potential risks to consumers, such as fraud and market manipulation.

According to Eric Balchonas and James Seifart (another Bloomberg Intelligence analyst), BlackRock’s filing last week “rekindled hope of approval thanks to the company’s size, stature and reputation.”

“Everyone who has a file is going to resubmit it, and those who were considering it will also want to file it soon as well,” predicted Dave Abner – director of crypto advisory firm Dabner Capital Partners -.