Invesco Hires Crypto Product Leader from JPMorgan

Invesco means business when it comes to crypto.

The asset manager last week brought on a global head of digital assets, hiring JPMorgan alum Kathleen Wrynn for the newly created position. Wrynn, who most recently was executive director of global technology strategy at JPMorgan, oversees the strategic direction and management of Invesco’s digital asset portfolio. That extends beyond the firm’s $1.6 billion in digital assets ETFs, including tokenized assets and cryptocurrencies more broadly, a company spokesperson told ETF Upside.

“She will work closely with the global technology organization to identify and lead opportunities to leverage blockchain technology, such as initiatives to tokenize our funds and integrate digital assets into our investment strategies,” the spokesperson said. 

Organization Station

The hiring is a result of the company’s new global product leadership team, an organization Invesco announced in April. That team will help the company continue to build products across “active and rules-based, public and private capabilities,” according to Invesco. Across the industry, digital assets have not been a priority for most firms, but that may be changing: The Trump administration’s Securities and Exchange Commission is openly friendly to crypto and may soon approve a variety of new ETFs. 

Data from Cerulli Associates show:

• 11% of asset managers said digital assets were a priority area for products in 2024, compared with just 3% who said so in 2023 but 19% saying the same in 2022.
• Financial advisors are increasingly using crypto. This year, 21% said they use or discuss it with clients, up from 11% two years ago. Over half of those who do, 55%, use spot-price crypto ETFs.

Universe of ETFs: Invesco’s lineup includes three ETFs focused on the blockchain and crypto world as well as three spot-price funds. The firm touts its Invesco Galaxy Bitcoin ETF (BTCO) “as having a relatively low tracking difference and one of the tightest average intraday premium discount spreads of spot bitcoin ETFs,” the spokesperson said.