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.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.