Atlanta-based Investment Firm Invesco Files for Bitcoin ETF

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Invesco, an investment company based in Atlanta, has just announced it has filed for a Bitcoin ETF with the US Securities and Exchange Commission (SEC).

According to the filing, the company plans to launch a Bitcoin exchange-traded fund (ETF) that does not invest directly in Bitcoin.

This new investment product has been dubbed Bitcoin Strategy ETF and plans to invest “all or substantially all of its assets” in Bitcoin futures and exchange-traded products (ETPs), as well as Bitcoin-linked private investment trusts like the Grayscale Bitcoin Trust.

In addition, the fund might also invest in other ETFs outside the US and to use its remaining assets in other instruments as collateral.

One of the features of the ETF is that it is “non-diversified,” which means that it will not be necessary to meet certain diversification requirements under the Investment Company Act of 1940.

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