Invesco has updated its S-1 form for a Bitcoin ETF with the U.S. SEC, promising to only launch a cash ETF

Bloomberg ETF analyst Eric Balchunas said that according to the recently updated S-1 form Invesco submitted to the U.S. Securities and Exchange Commission (SEC), Invesco has committed to only launching a Bitcoin ETF that creates cash. "There are quite significant clues indicating that the U.S. SEC insists on allowing only cash creation at the time of initial issuance of an ETF (this is also feedback we have received). Despite this, many people are still watching whether BlackRock can influence the U.S. SEC in terms of physical assets."

Cash ETFs and physical ETFs differ in their subscription and redemption methods, where subscriptions and redemptions for cash ETFs are all done in cash, while those for physical ETFs are all done with actual stocks.