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Before Ethereum ETF in June, BlackRock set off a strong ETF wave in the crypto world. This impact led to an increase in spot Bitcoin ETF applications from many companies. One of these companies was Invesco, which manages more than $1.49 trillion worth of assets globally. To keep up with this growth trend in the crypto world, Invesco applied for a spot Bitcoin exchange traded fund (ETF) on June 21.
However, Invesco’s interest in Bitcoin only does not seem to be over. The company has now also applied for a spot Ethereum ETF. This signals diversity and growth in the crypto world. Bloomberg analyst James Seyffart shared Invesco’s this move and also Galaxy’s application for a spot ETF for the same purpose.
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In addition to Invesco’, another investment firm called ARK Invest had also applied for a spot ETF targeting Ethereum. ARK Invest had collaborated with a leading ETF provider such as 21Shares for this purpose. All these developments show that cryptocurrencies are attracting the interest of more and more institutional investors and financial product providers, and this market continues to expand.
In conclusion, the crypto world continues to attract more attention from traditional finance. The increase in spot Bitcoin and Ethereum ETF applications can be seen as a sign of broader investor adoption and access to cryptocurrencies. This shows the rapidly growing role of cryptocurrencies in the financial world.
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