Invesco launches competitor bitcoin ETF
Invesco has become the first major asset manager to launch a bitcoin ETF, rolling a physically-backed ETN in Germany.
The Invesco Physical Bitcoin ETN (BTIC) (XS2376095068), which began trading today, will hold physical bitcoins and be structured very similarly to its competitor products form 21Shares, HANetf, and VanEck.
BTIC charges a fee of 0.99% and has been seeded with $175 million.
Curiously, there has been no press coverage of the launch.
