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Invesco has submitted a new request for the inclusion of a Bitcoin ETF trading fund, supported by BlackRock

Investment management company Invesco has once again submitted a request for the inclusion of a Bitcoin Exchange-Traded Fund (ETF) on the stock exchange. Invesco previously collaborated with Galaxy Digital to submit the first application for a Bitcoin ETF in 2021. They also filed an application for a Bitcoin Futures ETF, but discontinued these efforts in October 2021 after ProShares’ approval of a Futures ETF and its commencement of trading.

In its new request, Invesco noted that the absence of a Bitcoin ETF pushes investors towards riskier alternatives, some of which have experienced insolvencies, such as FTX, Celsius Network, BlockFi, and Voyager Digital Holdings. Invesco also emphasized the importance of investor protection and the necessity for a regulatory oversight sharing agreement with an official and regulated market for approving a Bitcoin ETF, rather than self-regulating the Bitcoin ETF market.

BlackRock also supported the idea and suggested the possibility of utilizing the NASDAQ market to fulfill this role. So far, the Securities and Exchange Commission (SEC) has not provided any indication regarding the announcement date for a Bitcoin ETF. Grayscale has filed a lawsuit against the SEC for rejecting a Bitcoin ETF, and a decision in this case is expected by September.

Overall, these developments indicate a growing interest in listing Bitcoin ETFs on the stock exchange, with companies looking to provide investors with safer and more transparent opportunities for trading digital currencies.

SourceCoin Desk

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