Invesco is planning to launch a pair of cryptocurrency-focused exchange-traded funds, even as regulators have repeatedly delayed the approval of a U.S. Bitcoin ETF.
About 85% of the Invesco Galaxy Blockchain Economy ETF and the Invesco Galaxy Crypto Economy ETF will be in crypto-linked equities, according to a filing with the Securities and Exchange Commission. The rest of the portfolio will be in other trusts and funds that hold cryptocurrencies.
The SEC has delayed making a decision on the pileup of Bitcoin ETF applications, though odds of approval this year have faded after skeptical comments last month from new Chairman Gary Gensler.
At least 12 issuers, including Fidelity Investments, Grayscale Investments and WisdomTree Investments, are currently pursuing a Bitcoin ETF, and the SEC has acknowledged at least six applications, according to Bloomberg Intelligence. That means it has a limited amount of time to either approve or reject the proposals.
Invesco is the latest issuer to get creative as the SEC hits pause. An application for the Volt Bitcoin Revolution ETF was filed this week, which would target companies exposed to Bitcoin. Meanwhile, the Bitwise Crypto Industry Innovators ETF (BITQ), which tracks companies such as crypto miners and payment firms, launched in May.
Voya Financial adds private equity, credit and real estate options to its AMA program, building on support for looser federal investment rules in retirement accounts.
Shannon Reid, president of Osaic and the network’s number two executive, has plenty of challenges, industry executives said.
Auditors flagged the commingling. The COO allegedly knew. Investors kept getting the pitch
The advisors on the move include two brothers leading a family practice in Connecticut, and a husband-and-wife tandem working with business owners in the West Coast.
Business owners and their heirs may be making assumptions instead of having conversations, creating challenges for succession planning, according to new research.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
