Invesco Introduces Two Passively Managed ETFs

Invesco Ltd. (IVZ) has announced the launch of two passively managed exchange-traded funds (ETFs), focused on digital assets and blockchain. The company acts as an independent global investment management firm.

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Invesco said that the ETFs, Invesco Alerian Galaxy Crypto Economy ETF (SATO) and the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC), would be listed on Cboe Global Markets, beginning October 8.

SATO ETF will track the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index and is expected to provide exposure to companies participating in both the cryptocurrency and blockchain space, including businesses such as cryptocurrency miners, cryptocurrency infrastructure technologies and cryptocurrency buyers. (See Invesco stock charts on TipRanks)

On the other hand, BLKC ETF targets to track Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index and offers access to the same companies as SATO, along with a segment of companies involved in the research and development of blockchain technology not tied to cryptocurrency.

Invesco’s Head of Americas, ETFs & Indexed Strategies, John Hoffman, said, “Today’s launch opens up a new way for investors to access this fast-growing asset class, combining exposure to key companies in the cryptocurrency and blockchain ecosystem with an allocation to an investment vehicle that directly holds digital assets, all within the ETF wrapper.”

“The combined, broad expertise Alerian and Galaxy bring to these Invesco ETFs is a unique advantage and we are excited to align with both firms on a combined long-term vision around the potential digital assets and blockchain can bring to clients’ investment outcomes,” Hoffman added.

Recently, Morgan Stanley analyst Michael Cyprys maintained a Hold rating on Invesco and lowered the price target to $27 from $28. The new price target implies 6.4% upside potential from current level.

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Based on 2 Buys, 4 Hold and 1 Sell, the stock has a Hold consensus rating. The average Invesco price target of $30.67 implies 20.9% upside potential.

IVZ scores an 8 out of 10 on TipRanks’ Smart Score rating system, suggesting that the stock is likely to outperform market averages.