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
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