Invesco Blockchain ETF
Looks like once again, the United States is falling behind in the crypto space.
Invesco, a United States-based investment management company is launching a blockchain ETF in the UK. The ETF went live today, March 11th on the London Stock Exchange (LSEG). Side note: Americans love to complain about companies that outsource and go over shores to do business, however, what many fail to realize is that sometimes this very occurrence happens due to lack of resources and availability within the country. In this particular situation, due to the SEC and Congresses continuous denial for crypto regulation and ETF approval, this U.S based company is basically forced to look elsewhere to conduct business.
The firm is currently targeting 48 companies that have involvement in blockchain and expect to expand in the future. Some of these companies include tech giants such as, Apple, Intel, and CME Group that will be included in the ETF. Take note, the companies aren’t necessarily involved with cryptocurrency; Invesco is specifically taking into consideration blockchain technology with their targeted companies. The selected companies were chosen based on a scoring system created by Elwood Asset Management.
As of right now, there is no positive word of any exchanges that have applied for crypto ETF’s with one of the most recent ones being the Chicago Board Options Exchange, currently pending approval. I will not be surprised if in a month or so I’m writing another article regarding another company going overseas to offer their blockchain related ETF.