Invesco gibt Pläne zur Einführung von Bitcoin-ETF-Futures auf
One of the first companies to file a Bitcoin ETF with the US SEC, Invesco turned it down shortly after competitor ProShares debuted its ETF on NYSE Arca.
The $1.3 trillion asset manager has decided to suspend its plans to trade BTC-ETF futures. Although so far the company has only officially announced this in the media, it has not announced its decision to the US Securities and Exchange Commission itself. In documents previously filed with the SEC, the effective date of the BTC-ETF from Invesco is October 29, 2021.
Despite the abandonment of Bitcoin-ETF plans, Invesco said they will continue to partner with Bitcoin enthusiast Mike Novogratz's cryptocurrency company Galaxy Digital. This allows Invesco to offer its clients access to a new asset class, including ETFs physically backed by digital currencies. While the BTC-ETF ProShares, starting on October 19, tracks the value of futures on BTC CME, and not the current price of the main cryptocurrency on the market.
Parallel to this, interest in bitcoin futures reached a new record on the CME, surpassing $3.64 billion. The previous psychologically important $3.26 billion mark was set in February 2021. According to Glassnode analysts, against the backdrop of positive news about the upcoming Bitcoin-ETF futures, the volume of BTC contracts increased significantly by 60% to 56,410 units.
The eve of the launch of the first Bitcoin ETF from ProShares was also indicative of the increase in the number of funds in cryptocurrency funds to $72.3 billion. CoinShares announced this in a new report. The previous record, according to them, was $71.6 billion. At the same time, analysts stressed that positive dynamics have been observed for the fifth week in a row, and during this period the inflow of investments amounted to over $718 million.
There are several more Bitcoin-ETFs pending with the SEC today, with a deadline due next week. We are talking about the financial instruments of VanEck and Valkyrie, the decision on which should take place on October 24 and 25, respectively. Unless the commission starts to detain them, once again.
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