The leading global asset management firm, Invesco Ltd. announced its exclusive partnership with Galaxy Digital Holdings Ltd. has led to the launch of the two new passively managed crypto exchange-traded funds (ETFs) – The Invesco Alerian Galaxy Crypto Economy ETF (SATO) and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) that will be listed on the Cboe Global Markets.
The asset management giant noted that these ETFs will be dedicated to enabling a secure passage for financial entities to invest in digital assets and blockchain. The mentioned ETFs will offer global public companies and select investment vehicles a regulated path into the decentralized market. Furthermore, both ETFs will also sustain a certain share of an investment vehicle that directly holds physical cryptocurrency.
“Today’s launch opens up a new way for investors to access this fast-growing asset class, combining exposure to key companies in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly holds digital assets, all within the ETF wrapper…The combined, broad expertise Alerian and Galaxy bring to these Invesco ETFs is a unique advantage and we are excited to align with both firms on a combined long-term vision around the potential digital assets and blockchain can bring to clients’ investment outcomes.”, said John Hoffman, Head of Americas, ETFs & Indexed Strategies at Invesco.
ETFs to track both, crypto services & blockchain firms
According to the press release, Invesco Alerian Galaxy Crypto Economy ETF (SATO) will track the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index. This means that SATO will be responsible for firms that extract most of their revenue from businesses operating on cryptocurrency activities such as cryptocurrency miners, cryptocurrency infrastructure technologies, and cryptocurrency buyers.
Meanwhile, the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) will track the Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index. BLKC will offer an investment into the same organizations, however, it will also extend to companies that are engaged in the research and development of blockchain technology, and not merely confined to cryptocurrency.