Invesco, which manages $1.8 trillion in property, has appointed JP Morgan Chase blockchain veteran Kathleen Wrynn to guide its greater than billion greenback digital asset portfolio, a transfer underscoring monetary establishments rising curiosity in cryptocurrencies.
Wrynn will function Invesco’s world head of digital property—a newly created position that entails overseeing the administration of varied tokenized property and cryptocurrency investments.
Wrynn will even be in control of initiatives comparable to tokenizing the asset supervisor’s funds and integrating cryptocurrencies into its funding methods, an Invesco consultant stated Wednesday in an announcement shared with Decrypt.
Invesco holds $1.6 billion digital asset ETFs below administration, together with three Blockchain and Crypto Ecosystem ETFs and three World Spot Cryptocurrency ETFs, in response to the assertion.
Wrynn beforehand oversaw JP Morgan’s blockchain enterprise, supporting product improvement with the Web3 ecosystem.
The appointment, which is able to probably help the constructing out of Invesco’s digital property initiatives, comes as a wide range of institutional buyers discover cryptocurrencies and the know-how that undergirds them.
In a survey of 100 Fortune 500 corporations, 60% reported investing in or engaged on blockchain-related tasks, a brand new Coinbase report exhibits. In the meantime, roughly 70% of crypto exercise in North America just lately consisted of transfers exceeding $1 million, underscoring sturdy institutional curiosity in cryptocurrencies in main markets such because the U.S., in accordance to knowledge supplier Chainalysis’ 2024 Geography of Cryptocurrency Report.
As well as, greater than 120 public corporations—a lot of which don’t have any prior connection to the crypto trade—have established Bitcoin treasuries over the previous yr, in response to Bitcointreasuries.internet. Equally, a number of different publicly traded corporations have signaled their intentions to stockpile different digital property comparable to Ethereum, Solana and XRP.
Their embrace comes as U.S. President Donald Trump has pushed for a number of pro-crypto insurance policies on the federal degree, issuing spate of govt orders calling for the safety of Bitcoin miners’ rights and for the U.S. Treasury to create a strategic Bitcoin reserve.
Edited by James Rubin
