Invesco is deferring the launch of a blockchain exchange-traded fund (ETF) in India due to regulatory uncertainty, the company said in a press release on Wednesday.
- Indian lawmakers have been meeting with representatives from the crypto industry in the past few days to mull a new legislative framework for crypto.
- The fund manager said that in light of these ongoing discussions, it is important to understand all aspects before making long term investment decisions.
- CoinShares and Invesco Asset Management India were set to launch the vehicle between Nov. 24 and Dec. 8 this year.
- The fund would not directly invest in bitcoin or crypto, but on an index of 50 listed companies with crypto exposure, such as Galaxy Digital and Tesla.
- Invesco halted its effort to launch a bitcoin futures ETF the U.S. in October, just a day before its competitor ProShares opened the first bitcoin futures ETF started trading on the New York Stock Exchange.