Invesco exec reveals reasons for dropping Bitcoin futures ETF
After dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in October, the United States’ $1.6 trillion asset manager, Invesco, has disclosed the reasons behind the decision.
Anna Paglia, Invesco’s global head of ETFs and indexed strategies, said that the biggest reason for dropping the filing was that the U.S. Securities and Exchange Commission (SEC) only approved Bitcoin ETFs with 100% exposure to Bitcoin futures.
The Invesco Bitcoin Strategy ETF was designed to ideally be a mix of futures swaps, physical Bitcoin and private funds in the Bitcoin industry, Paglia said in a Sunday interview with The Financial Times. Such a composition would help protect investors in the event of a liquidity crisis, she stated, adding:
Pagli
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