Invesco, a global asset management firm, has launched two unique cryptocurrency exchange-traded funds (ETF)
Invesco Ltd., a leading global asset management firm, has announced the launch of two new passively managed crypto exchange-traded funds (ETFs) – the Invesco Alerian Galaxy Crypto Economy ETF (SATO) and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) – that will be listed on the Cboe Global Markets.
These ETFs, according to the asset management giant, would be dedicated to allowing financial institutions to invest in digital assets and blockchain in a secure manner. The aforementioned ETFs will provide a regulated way into the decentralized market for global public corporations and chosen investment vehicles. Furthermore, both ETFs will retain a portion of an investment vehicle that owns real bitcoin directly.
“Today’s launch provides investors with a new opportunity to participate in this rapidly developing asset class by combining exposure to important firms in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly owns digital assets, all within the ETF wrapper… “The combined, broad expertise Alerian and Galaxy bring to these Invesco ETFs is a unique advantage,” said John Hoffman, Head of Americas, ETFs & Indexed Strategies at Invesco. “We are very excited to align with both the firms on a combined long-term vision around the potential digital assets and blockchain can bring to clients’ investment outcomes.”
ETF will monitor both crypto and blockchain companies
According to the press release, the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index will be tracked by the Invesco Alerian Galaxy Crypto Economy ETF (SATO). This implies that SATO will be in charge of companies that make the majority of their money from cryptocurrency-related industries, such as bitcoin miners, cryptocurrency infrastructure technology, and cryptocurrency purchasers.
Meanwhile, the Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index will be tracked by the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). BLKC will invest in the same firms, but it will also include companies that are involved in the research and development of blockchain technology, rather than just cryptocurrencies.