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Invesco Defers Launch of Blockchain ETF in India
The fund manager cited regulatory uncertainty; India’s government is discussing new crypto legislation.
Invesco is deferring the launch of a blockchain exchange-traded fund (ETF) in India due to regulatory uncertainty, the company said in a press release on Wednesday.
- Indian lawmakers have been meeting with representatives from the crypto industry in the past few days to mull a new legislative framework for crypto.
- The fund manager said that in light of these ongoing discussions, it is important to understand all aspects before making long-term investment decisions.
- CoinShares and Invesco Asset Management India were set to launch the vehicle between Nov. 24 and Dec. 8 this year.
- The fund would not directly invest in bitcoin or crypto, but on an index of 50 listed companies with crypto exposure, such as Galaxy Digital and Tesla.
- Invesco halted its effort to launch a bitcoin futures ETF in the U.S. in October, just a day before its competitor ProShares opened the first bitcoin futures ETF started trading on the New York Stock Exchange.
Read more: Invesco India and CoinShares to Launch ‘Feeder Fund’ of Blockchain Stocks
STORY CONTINUES BELOW
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Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
