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Global asset management company Invesco, which has about $1.5 trillion assets under management, has revived its spot <a href="https://en.coin-turk.com/these-price-levels-are-critical-says-cryptocurrency-analyst-is-bitcoins-trend-reversing/" data-wpel-link="internal">Bitcoin</a> ETF application with the U.S. Securities and Exchange Commission (SEC). Following the applications submitted to the SEC for spot Bitcoin ETFs by BlackRock and WisdomTree, the company has resubmitted its own application to the U.S. regulator using Form 19b-4. 
<h2 style="text-align: justify;" id="details-of-invesco-s-spot-bitcoin-etf-application">Details of Invesco’s Spot Bitcoin ETF Application</h2> 
With its spot Bitcoin ETF, Invesco aims to help investors indirectly invest in Bitcoin. The company’s official application stated, “Cboe BZX Exchange has filed a proposed rule change with the Securities and Exchange Commission, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, for the listing and trading of shares of the Invesco Galaxy Bitcoin ETF under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares.” 
The Chairman of the Cboe BZX Exchange gave the green light to the proposed change on June 20, 2023. It is now anticipated that the exchange will announce the implementation date for the change via an exchange announcement. 
<img decoding="async" loading="lazy" class="aligncenter wp-image-85493 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/invesco.png" alt="" width="1332" height="664" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/invesco.png 1332w, https://en.coin-turk.com/wp-content/uploads/2023/06/invesco-300x150.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/invesco-768x383.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/invesco-1200x598.png 1200w" sizes="(max-width: 1332px) 100vw, 1332px"> 
Invesco’s spot Bitcoin ETF will allow investors to indirectly invest in Bitcoin using professional custodial companies and other service providers. This approach will provide investors with significant protections that they may not always find when directly investing in the asset. Investors will be shielded against risks such as bankruptcy, cyberattacks, and other risks through the spot Bitcoin ETF. 
In its application, Invesco argues that if investors have access to other instruments for Bitcoin investments, they can protect their main investments in BTC, rather than directing their money towards loosely regulated offshore vehicles and similarly benefit. 
<h2 style="text-align: justify;" id="giants-line-up-for-spot-bitcoin-etf">Giants Line Up for Spot Bitcoin ETF</h2> 
In the past week, many giant asset management companies have sprung into action related to the spot Bitcoin ETF. WisdomTree <a href="https://en.coin-turk.com/harnessing-the-power-of-social-trading-an-in-depth-guide-to-traderwagon/" data-wpel-link="internal">Investment</a>s, a leading asset management company in the U.S., applied for a spot Bitcoin ETF with the SEC in the early hours of the day. Prior to this, the multi-trillion dollar asset manager BlackRock unexpectedly submitted an application to the SEC for a spot Bitcoin ETF. 
The post <a rel="nofollow" href="https://en.coin-turk.com/invesco-revives-spot-bitcoin-etf-application-amid-other-industry-giants/" data-wpel-link="internal">Invesco Revives Spot Bitcoin ETF Application Amid Other Industry Giants</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Invesco Revives Spot Bitcoin ETF Application Amid Other Industry Giants

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