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Invesco launches Bitcoin ETP designed for sophisticated investors.
Invesco’s physical Bitcoin ETP will be 100% backed by holdings in the underlying digital assets with the aim of delivering the price performance of Bitcoin, less a fixed annual fee of 0.99%.
Bitcoin (BTC) represents 42% of the US $ 2 trillion cryptocurrency market and, with over $ 2 billion worth of Bitcoins traded daily on digital exchanges around the world, it is the most liquid.
The bitcoins will be held on behalf of ETP Invesco by Zodia Custody, a UK-based digital asset custodian, which is registered with the FCA as a crypto asset firm under UK anti-trust regulations. money laundering. Zodia Custody was incubated by SC Ventures, the innovation arm of Standard Chartered. Northern Trust is a co-investor in Zodia Custody and a director of ETP Invesco.
CoinShares, Europe’s largest and oldest digital asset investment firm, is the index sponsor and will also serve as the executing agent for the physical Bitcoin ETP.
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