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Investment Management Firm Invesco Unveils Blockchain-Based Exchange-Traded Fund

BFSI News

Investment_Management-Firm-Invesco-Unveils-Blockchain-Based-Exchange-Traded-Fund Investment Management Firm Invesco Unveils Blockchain-Based Exchange-Traded FundInvesco, an American independent investment management company, has introduced a Blockchain Exchange-Traded Fund (ETF) at the London Stock Exchange. The reports noted that the Invesco Elwood Global Blockchain ETF will begin with targeting 48 companies that operate on Blockchain technology. The firms were purportedly picked up through a proprietary scoring system created by crypto investment boutique Elwood Asset Management.

With headquartered in Atlanta, Georgia, Invesco has global footprints across 20 countries. Several companies supporting Bitcoin futures CME Group as examples of companies included in the ETF. Last month, it was reported that U.S.-based Investment Management platform AdvisorShares, in participation with investments advisory company Sabretooth Advisors announced that they will jointly divulge an Exchange-Traded Fund, which tracks tech firms, including those involved with Blockchain and Cloud Computing. Moreover, at the beginning of this year, the Chicago Board Options Exchange, investment company VanEck and financial services firm SolidX re-applied with the U.S. Securities and Exchange Commission (SEC) for a rule change to list a Bitcoin ETF.

Invesco manages more than USD 800 billion in client assets, now, for a company first, it has released a Blockchain-focused exchange-traded fund called the Invesco Elwood Global Blockchain ETF. The company’s Blockchain-centric ETF is not the first to market, but it is the biggest in the marketplace. According to the reports, a handful of Blockchain-centric ETFs have released in both Europe and the US, but have failed to lure significant investor capital. Established in Atlanta in the year 1978 when Citizens & Southern National Bank divested its money management operations, Invesco was acquired by the London-based Britannia Arrow in 1988, which later took the Invesco name.