Last week,
BlackRock, the world’s largest asset manager, filed an application to register
a spot Bitcoin exchange-traded fund (ETF ) in the United States, spurring two
more major issuers to pursue similar financial instruments. Yesterday (Tuesday),
both Invesco and WisdomTree announced their intention to create their own spot
Bitcoin ETFs.
Despite
previous attempts falling short, BlackRock’s recent move has boosted hopes that
US regulators might finally approve such an instrument this time around.
Invesco, an
asset management company with $1.4 trillion under its wings, is seeking
approval for a Bitcoin ETF for the first time since 2021. The company initially
attempted to establish a spot Bitcoin exchange-trade fund in 2021 in
collaboration with Galaxy Digital. Although unsuccessful in establishing a
market-based instrument at the time, Invesco is now attempting to introduce this
instrument again.
The
Securities and Exchange Commission (SEC
