Invesco has announced the launch of two passively managed exchange-traded funds (ETFs) focused on digital assets and blockchain.
Two new exchange-traded funds
The Invesco Alerian Galaxy Crypto Economy ETF plans to track the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index. This will provide investors with exposure to companies operating in both the cryptocurrency and blockchain sectors, including cryptocurrency miners, cryptocurrency infrastructure technologies companies, and companies that have bought cryptocurrencies.
The Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF, on the other hand, will track the Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index and provide access to the same companies as SATO. It will also offer a segment of companies involved in researching and developing blockchain technology that is not directly related to cryptocurrencies.
An Investment vehicle that directly holds cryptocurrencies
Notably, both ETFs will additionally maintain an allocation to an investment vehicle that directly holds physical cryptocurrencies. This is the largest such dedicated holding currently available in an ETF in the US. The underlying indexes are a partnership between Alerian S-Network Global Indexes, an index provider focused on developing innovative index-based investment strategies, and Galaxy Digital Holdings Ltd.
“The product unlocks another way for retail and institutional investors to get involved in the rapidly evolving and transformative world of digital assets,” said Steve Kurz, partner and head of asset management at Galaxy Digital.