In Brief:
- Invesco partnered with Galaxy Digital Holdings to launch two ETFs
- Both started trading on Cboe under the ticker “SATO” and “BLKC”
- This is the largest cryptocurrency holding currently available in an ETF in the USA.
Invesco Ltd., a leading global asset management firm, announced the launch of two passively managed exchange-traded funds (ETFs) focused on digital assets and blockchain.
Invesco and Galaxy Digital Holdings have teamed up to launch cryptocurrency and blockchain exchange-traded funds.
They are called the Invesco Alerian Galaxy Crypto Economy ETF (SATO) and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce (BLKC). Starting on Thursday they have begun trading on the Cboe Global Markets exchange under the ticker “SATO” and “BLKC”.
Both ETFs opened at $25 per share but by midday had traded at $25.59 for SATO and $25.43 for BLKC. Both the ETFs can be tracked on Alerian S-Network Global Indexes.
Ideally, these ETFs will offer thematic equity exposure to companies worldwide that are operating in the cryptocurrency and blockchain fields.
SATO will aim to track the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index.
While, BLKC will aim to track the Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index and offer access to the same companies as SATO as well as a segment of companies that are engaged in the research and development of blockchain technology not tied to cryptocurrency.
SATO’s portfolio includes crypto miners, infrastructure and technology builders, and crypto investors.
The BLKC’s portfolio will include companies that research and develop non-crypto currency blockchain technologies, as well as the same companies as the SATO fund.
The Press release of Invesco states, “Both ETFs will maintain an allocation to an investment vehicle that directly holds physical cryptocurrency.”
This is the largest dedicated cryptocurrency holding currently available in an ETF in the USA.
Also Read: Invesco Files For Bitcoin Strategy ETF With The SEC
Stephanie Diioreao, senior director at Invesco, said “These are passive funds that track indexes and will be re-allocated at the end of each month.” She added that the ETFs will primarily track the Alerian Galaxy Global Indexes
John Hoffman, Invesco’s head of ETFs said, “Today’s launch opens up a new way for investors to access…companies in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly holds digital assets, all within the ETF wrapper.”
