Asset management company Invesco has partnered with Galaxy Digital to launch several exchange-traded funds (ETFs) for cryptocurrencies.
The companies note that they are planning to launch a “full set” of ETFs for cryptocurrencies, and the funds will directly invest in assets. It is separately emphasized that the main task is to launch such products in the United States.
“Invesco has a long history of working with ETFs and the new funds will allow investors access to an innovative asset class. By partnering with market leader Galaxy Digital, we can leverage their expertise in blockchain, digital assets and cryptocurrencies for our products, ”said John Hoffman, Head of ETF Strategy for America Invesco.
As a reminder, Invesco manages assets worth $ 1.5 trillion. Galaxy Digital manages assets for $ 2.1 billion, but focuses on investments in blockchain and cryptocurrencies.
At the moment, Invesco and Galaxy Digital have submitted only one application for the launch of a cryptocurrency ETF, but in the near future the number of applications should increase significantly.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
