News From Press Is Invesco's new fund a foot in the bitcoin door?

Is Invesco's new fund a foot in the bitcoin door?

Source: Mint Nov 16, 2021

Invesco Asset Management (India) Pvt. Ltd is launching Invesco CoinShares Global Blockchain ETF FoF. This is a feeder fund that opens to Indian investors via a new fund offer (NFO) on 24 November and closes on 8 December. The FoF (fund of funds) will feed into an Ireland-domiciled ETF (exchange traded fund) that invests in a mix of crypto-related companies and broader tech companies. However, the fund’s past net asset value (NAV) movements exhibit similarity with movements in the price of bitcoin, the world’s largest cryptocurrency by market cap. In doing so, the Invesco FoF may be able to give Indian mutual fund investors a partial play on the price of cryptos.

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