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<p class="is-style-lead">Invesco, an investment management organization overseeing assets worth $1.49 trillion, recently filed a new application for a spot bitcoin exchange-traded fund (ETF). </p> 
<p class="is-style-default">The move follows Invesco’s initial joint application with Galaxy Digital in 2021.&nbsp;</p> 
<p>The latest filing highlights Invesco’s strong belief in the pressing necessity for a spot <a href="https://crypto.news/price/bitcoin/">bitcoin</a> ETF, emphasizing that the absence of such a product exposes investors to riskier alternatives. </p> 
<p>The company cited instances of platform companies facing bankruptcy, including FTX, Celsius Network, BlockFi, and Voyager Digital Holdings.</p> 
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   <p lang="zxx" dir="ltr"><a href="https://t.co/CuTRwyJwY2" target="_blank">https://t.co/CuTRwyJwY2</a></p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1671379591284371459?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 21, 2023</a>
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<p>According to a recent filing with the Securities and Exchange Commission (SEC), Invesco has again shown keen interest in establishing a spot <a href="https://crypto.news/price/bitcoin/">bitcoin</a> ETF. The application emphasizes the urgent need for such a product, as the lack thereof leads investors towards riskier options. Invesco believes that the availability of a spot bitcoin ETF would provide investors with a safer and more regulated investment alternative.</p> 
<p> You might also like: <a href="https://crypto.news/asset-manager-wisdomtree-files-bitcoin-etf-application/"> Asset manager WisdomTree files bitcoin ETF application </a> </p> 
<p>The recent application by BlackRock, a key participant in the investment management industry, likely encouraged Invesco to reapply for the position. </p> 
<p>As interest and competition in the market for cryptocurrency ETFs continue to rise, several well-known companies, including iShares, Bitwise, and WisdomTree, have also filed for spot bitcoin ETFs in the past week.</p> 
<p>CoinGape reported a significant jump in the price of bitcoin over the previous 24 hours, with a gain of 6.9%. Furthermore, <a href="https://crypto.news/free-bitcoins/">bitcoin’s</a> price has experienced a noteworthy increase of 10.6% over the past week. </p> 
<p>According to Tradingview, bitcoin’s market dominance has surpassed 51%, indicating its strong position as the leading cryptocurrency in the market.</p> 
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<p>The conclusion reached by the United States Securities and Exchange Commission (SEC) that a substantial portion of alternative cryptocurrencies should be classified as securities may have far-reaching repercussions for the market. </p> 
<p>In contrast, bitcoin, designated by the SEC as a commodity, may be viewed as a more established and regulated investment alternative due to this designation.</p> 
<p>As the race for bitcoin ETF approval intensifies, and market dynamics evolve, investors eagerly await regulatory decisions that could shape the future of digital asset investment opportunities. </p> 
<p>Invesco’s new application demonstrates the growing demand for a spot bitcoin ETF. It underscores the industry’s efforts to provide investors with safer and more regulated options in the evolving cryptocurrency landscape.</p> 
<p> Read more: <a href="https://crypto.news/fidelity-may-be-considering-a-bitcoin-spot-etf/"> Fidelity may be considering a bitcoin spot ETF </a> </p>

Invesco submits new spot bitcoin ETF application

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