With its new metaverse-focused investment fund, Invesco aims to capitalize on the growing market for virtual reality businesses of all sizes.
American investing firm Invesco.
The investment business submitted paperwork in the United States last year to launch two cryptocurrency ETFs. The company eventually abandoned its goals and attacked the US SEC for their negative stance on such things.
Jump on the Metaverse Express!
Citywire reports that global financial powerhouse Invesco has joined the ranks of the companies making use of the Metaverse. Invesco, as was previously mentioned, has launched a new investment fund focused on the metaverse, which will provide capital to businesses throughout the Americas, Asia, and Europe who have established a presence in augmented reality.
The feature’s manager will be Tony Roberts, while James McDermottroe will be the deputy fund manager. Both individuals are UK-based specialists who contribute to Invesco’s stocks in Asia and emerging markets.
The Invesco Metaverse fund will focus on a wide variety of important sectors, such as cutting-edge computing systems, hyperconnectivity networks, immersive platforms powered by AI, and Metaverse-accessible products and gadgets.
Roberts stated in a statement that he believes the global economy may be $1.6 trillion better off by the year 2030 because to advances in virtual and augmented reality.
Alexander Millar, Invesco’s Head of UK Distribution, has said that the company strives to offer its clients “best-in-class solutions,” one of which is unquestionably the Metaverse.
Expenditure Tracking Fund Initiati
The Invves at Invescoesco Galaxy Crypto Economy ETF and the Invesco Galaxy Blockchain Economy ETF are two exchange-traded funds (ETFs) that will focus on cryptocurrencies and were unveiled by the investment business last year. Invesco oversees more than $1.6 trillion in assets.
As 2021 came to a close, however, the company abandoned those plans, citing unreasonable demands from the US SEC as the reason. Product would have been too “expensive” for investors, says Anna Paglia, global head of ETFs and indexed strategies at Invesco.
A Bitcoin Spot ETN was only registered on the German stock exchange operator Xetra many days after the company’s initial filing. Access to Bitcoin’s performance is “physically safeguarded” thanks to the “Invesco Physical Bitcoin” ETN (symbol: BTIC).