Invesco unveils physically backed bitcoin ETP

Fixed 0.99% annual fee

Pedro Gonçalves
clock • 1 min read
Bitcoin accounts for 42% of the $2trn cryptocurrency market
Image:

Bitcoin accounts for 42% of the $2trn cryptocurrency market

Invesco is launching a Bitcoin ETP 100% backed by holdings in the underlying digital assets, with the aim of delivering the price performance of bitcoin.

Bitcoin (BTC) accounts for 42% of the $2trn cryptocurrency market and, with more than $2bn worth of bitcoins traded on digital exchanges around the world each day, it is the most liquid.

Tesla stops accepting Bitcoin over climate concerns

The Invesco Physical Bitcoin ETP has a fixed 0.99% annual fee. Bitcoins will be held on behalf of the Invesco ETP by Zodia Custody, a UK-based digital asset custodian, which is registered with the FCA as a Crypto Asset Business under UK Anti-Money Laundering Regulations.

Zodia Custody was incubated by SC Ventures, the innovation arm of Standard Chartered. Northern Trust is a co-investor in Zodia Custody and the administrator for the Invesco ETP.

CoinShares, Europe's largest-standing digital asset investment firm, is the index sponsor and will also serve as the execution agent for the Physical Bitcoin ETP.

More on Alternatives

Is there sufficient demand for private assets to meet supply?

Is there sufficient demand for private assets to meet supply?

Several recent fund launches

Chris Newlands
clock 17 May 2024 • 6 min read
Investment Week Private Markets Summit in pictures

Investment Week Private Markets Summit in pictures

Residential event in May

Katrina Lloyd
clock 16 May 2024 • 1 min read
Semi-liquid funds pose Consumer Duty challenges for wealth managers as barriers to entry subside

Semi-liquid funds pose Consumer Duty challenges for wealth managers as barriers to entry subside

Questions around investor suitability

Valeria Martinez
clock 16 May 2024 • 2 min read
Trustpilot