After withdrawing a filing for a Bitcoin (BTC) futures ETF in October, Invesco had revealed the reasons behind the decision, according to a report by CoinTelegraph on Monday.
Anna Paglia, Invesco’s global head of ETFs and indexed strategies stated that the major reason for withdrawing the filing was that the U.S. SEC only approved BTC ETFs with 100% exposure to Bitcoin futures.
The Invesco Bitcoin Strategy ETF was created to be a mix of futures swaps, physical Bitcoin, and private funds in the Bitcoin Industry.
Paglia, in a Sunday interview with The Financial Times, stated that the composition would help in protecting investors during a liquidity crisis.
Paglia further stated that Invesco realized that there were improved ways of providing this certain exposure rather than giving investors something they do not need. BTC USD up +0.25%