Invesco, a US investment management company with over $1 trillion in assets under management, has joined the growing list of companies looking to launch crypto-focused ETFs.

In a filing with the SEC last Wednesday, Invesco revealed that it plans to launch two crypto-based ETFs.

These funds include:

• “Invesco Galaxy Crypto Economy ETF”.
• “Invesco Galaxy Blockchain Economy ETF”.

According to extract From the document filed with the SEC:

The fund will allocate assets in the same proportion to the underlying index (i.e. under normal circumstances, the fund will invest approximately 85% of its assets in the equity component of the equity component, 10% in the futures component and 5% in the ETP).

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While most applications seek to invest directly in cryptocurrencies, Invesco does not seek direct investment.

The Invesco Fund will not invest directly in cryptocurrencies nor will it invest directly in ICOs.

However, the fund may be indirectly exposed to cryptocurrencies thanks to its investments in companies that use one or more cryptocurrencies as part of their business activities or that hold crypto assets as proprietary investments.

The US Securities and Exchange Commission has not yet approved any bitcoin ETF applications, having rejected many proposals in the past, citing market manipulation and volatility.

With other Bitcoin ETFs still waiting for the SEC’s decision, Invesco’s plan to not invest directly in cryptocurrency could have the regulator give its approval within a shorter time frame.

Read:Major Banks Study Possibility of Offering Bitcoin Backed Loans

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