Invesco, an asset management giant, launches two exclusive ETFs

One of the biggest asset management giants, Invesco, has shaken hands with Galaxy Digital Holdings Ltd. Under the course of their partnerships, the two firms will launch two exchange-traded funds, popularly known as ETFs. 

According to the latest report, there will be two exchange-traded funds to be traded on the Cboe Global Markets:

• The Invesco Alerian Galaxy Crypto Economy ETF (SATO)
• Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC)

These exchange-traded funds will provide many institutional investors a peek into blockchain-based currency investment. Hence, it will be easier for global investors who are still new to the volatility presented by the crypto market. 

Invesco aims to increase crypto exposure

In his recent statement, Invesco CEO John Hoffman concluded:

“Today’s launch opens up a new way for investors to access this fast-growing asset class, combining exposure to key companies in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly holds digital assets, all within the ETF wrapper…The combined, broad expertise Alerian and Galaxy bring to these Invesco ETFs is a unique advantage and we are excited to align with both firms on a combined long-term vision around the potential digital assets and blockchain can bring to clients’ investment outcomes.”

The two ETFs from Invesco will be responsible for tracking cryptocurrency firms as well as blockchain development firms. This means that the SATO exchange-traded fund will be responsible for tracking those organizations that gather most of the returns from engaging in crypto-related activities. This includes cryptocurrency mining or building infrastructures for crypto assets or even exchange platforms.

Furthermore, the second exchange-traded fund from Invesco, BLKC, will not be limited to these firms operating in the crypto world but also focus on organizations devoted to developing multiple blockchain projects.

Invesco’s release of these two ETFs is quite a progressive signal towards Bitcoin and altcoin adoption in the finance industry.