{"id":52782,"date":"2023-06-21T08:14:27","date_gmt":"2023-06-21T12:14:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=52782"},"modified":"2023-06-21T08:16:04","modified_gmt":"2023-06-21T12:16:04","slug":"invesco-re-applies-for-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/invesco-re-applies-for-spot-bitcoin-etf\/","title":{"rendered":"Invesco Re-Applies for Spot Bitcoin ETF"},"content":{"rendered":"\n

Following BlackRock<\/a> and other applications, the $1.4 billion investment management firm Invesco re-Applies for a Bitcoin ETF.<\/p>\n\n\n\n

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Invesco Re-Applies for Spot Bitcoin ETF<\/figcaption><\/figure>\n\n\n\n

Invesco, an established investment management firm that oversees $1.49 trillion in assets, has submitted a new exchange-traded fund (ETF) application for a spot Bitcoin (BTC) fund. This action follows Invesco's initial filing for a Bitcoin ETF with Galaxy Digital in 2021.<\/p>\n\n\n\n

Invesco Resubmits Bitcoin Exchange Traded Fund<\/h2>\n\n\n\n

According to a new Securities and Exchange Commission (SEC)\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> filing, Invesco has reportedly thrown its cap back into the ring for a spot Bitcoin exchange-traded fund (ETF).<\/p>\n\n\n\n
\"\"<\/figure>\n\n\n\n

In addition to their initial application in 2021, Invesco submitted a proposal for a Bitcoin Futures ETF but withdrew at the last minute. Even though the SEC has already approved ProShares' Bitcoin Futures ETF, they frequently cited concerns.<\/p>\n\n\n\n

In its most recent filing, Invesco emphasized the need for a spot Bitcoin ETF, arguing that the lack of such a product forces investors to seek riskier alternatives. The filing mentioned the insolvencies of platforms such as FTX, Celsius Network, BlockFi, and Voyager Digital Holdings.<\/p>\n\n\n\n

Bitcoin ETF Gaining Ground<\/h3>\n\n\n\n

In response to increasing interest and competition in the cryptocurrency ETF space, Invesco has reapplied for a Bitcoin spot ETF. BlackRock's recent application likely influenced Invesco's decision to reapply. BlackRock is a significant participant in the investment management industry.<\/p>\n\n\n\n

Since Thursday, other prominent companies, including iShares, Bitwise, and WisdomTree, have filed for spot Bitcoin ETFs. Reports say that Bitcoin Price experienced a significant price increase of 6.9% over the past 24 hours.<\/p>\n\n\n\n

It has undergone a notable 10.6% increase over the past week. According to Tradingview,<\/use><\/svg><\/span><\/a> Bitcoin's market value has reached 51%, demonstrating its market dominance.<\/p>\n\n\n\n

In addition, the U.S. Securities and Exchange Commission's (SEC) classification of many alternative cryptocurrencies as securities may have market-wide repercussions. As a commodity the SEC recognizes, Bitcoin may be regarded as a more established and regulated investment option.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following BlackRock and other applications, the $1.4 billion investment management firm Invesco re-Applies for a Bitcoin ETF. Invesco, an established investment management firm that oversees $1.49 trillion in assets, has submitted a new exchange-traded fund (ETF) application for a spot Bitcoin (BTC) fund. This action follows Invesco’s initial filing for a Bitcoin ETF with Galaxy […]<\/p>\n","protected":false},"author":53,"featured_media":52787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[5371,6175,5596,4492],"class_list":["post-52782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin-2","tag-bitcoin-etf-2","tag-invesco-2","tag-u-s-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/blehh.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=52782"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/52787"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=52782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=52782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=52782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}