Spot Bitcoin ETF Application: Trillion-Dollar Company Follows Blockrock and WisdomTree’s Lead!

  • Invesco, a US asset manager with $1.4 trillion in assets under management, has applied for a spot Bitcoin exchange-traded fund (ETF).
  • The company argues that the absence of a spot Bitcoin ETF has pushed investors towards riskier alternatives.
  • Other major players in the industry, such as BlackRock and WisdomTree, have also applied for spot Bitcoin ETFs.

Invesco Joins the Race for a Spot Bitcoin ETF

Invesco, a leading US asset manager with $1.4 trillion in assets under management, has recently submitted an application to the US Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF). The company believes that the introduction of a spot Bitcoin ETF would not only benefit investors but also create a more secure environment for the market.

The Push for a Spot Bitcoin ETF

Invesco argues that the absence of a spot Bitcoin ETF has led investors to turn to riskier alternatives such as FTX, Celsius Network, BlockFi, and Voyager Digital. The company emphasizes that the acceptance of spot Bitcoin ETFs would provide investors with a regulated ETF market, ensuring greater safety and security.

Industry Giants Leading the Way

Invesco is not the only major player in the industry seeking approval for a spot Bitcoin ETF. BlackRock, WisdomTree, and other important actors have also submitted applications to the SEC. BlackRock, in particular, has had a high success rate with its spot ETF applications, with 575 out of 576 applications receiving positive results. This track record has encouraged other investment firms to follow suit, anticipating that they too may receive approval if BlackRock’s applications are successful.

With the likes of BlackRock, WisdomTree, and Invesco leading the way, the prospects for a spot Bitcoin ETF are looking increasingly promising.

SEC’s Decision and Timeline

The SEC has a maximum of 240 days to approve or reject the spot Bitcoin ETF applications. While the SEC has yet to approve any spot Bitcoin ETF applications, the involvement of industry giants like Invesco increases the likelihood of a positive outcome.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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