US-based funding administration agency Invesco re-filed its spot Bitcoin ETF software with the Securities and Alternate Fee (SEC) on June 20.

The corporate, together with Galaxy Digital, had utilized for a Spot Bitcoin ETF in September 2021. It additionally utilized for a futures ETF product referred to as “Invesco Bitcoin Technique ETF” in August 2021, however later withdrew the applying in October 2021. No particular purpose for the change was given.

Invesco’s re-application follows WisdomTree’s and BlackRock’s spot ETF purposes. The submitting with BlackRock was made on June 15, at a time of low market sentiment resulting from rising hostility in the direction of regulators.

Alex Adelma, chief government of bitcoin rewards app Lori, stated BlackRock, because the world’s largest funding supervisor, has revitalized curiosity in bitcoin amongst institutional traders. He stated it was prone to set off a wave of coin-related monetary merchandise.

Invesco stated in its software that earlier ETF approvals had been granted by itemizing exchanges.monitoring sharing settlementHe didn’t point out regulation focusing on the spot market, citing examples reminiscent of spot gold merchandise being current when the spot gold market is “barely regulated”.

He added that the corporate’s merchandise provide investor safety past shopping for bitcoin immediately, together with safety towards chapter and cyberattacks. He additionally hinted that traders had been harm by a variety of CeFi bankruptcies final yr, saying US traders wouldn’t use “loosely regulated offshore automobiles” if a spot bitcoin ETF was authorized.

The SEC has repeatedly rejected spot bitcoin ETF purposes, elevating considerations over crypto volatility and market manipulation.

Given BlackRock’s place and monitor document in ETF approvals, some hope this wave of filings will elicit an alternate response from regulators.

An article first appeared on currencyjournals about Invesco becoming a member of BlackRock and WisdomTree making a spot software for a Bitcoin ETF.