{"id":142836,"date":"2021-02-17T00:03:00","date_gmt":"2021-02-16T18:33:00","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=142836"},"modified":"2021-02-16T21:07:15","modified_gmt":"2021-02-16T15:37:15","slug":"nydig-seeks-us-sec-approval-to-create-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/nydig-seeks-us-sec-approval-to-create-bitcoin-etf\/","title":{"rendered":"NYDIG seeks US SEC approval to create Bitcoin ETF"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">New York Digital Investment Group (NYDIG) is seeking to create a Bitcoin exchange-traded fund (ETF) according to a new filing with United States Securities and Exchange Commission (SEC).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Provided SEC gives the green light to the fund, NYDIG\u2019s Bitcoin ETF could trade on New York Stock Exchange Arca. If approved, the ticker symbol will be announced prior to the commencement of trading.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1843021\/000119312521043521\/d242572ds1.htm\">According<\/a> to the Form S-1 filing, <a href=\"https:\/\/www.morganstanley.com\/\">Morgan Stanley<\/a> will serve as the proposed Bitcoin ETF&#8217;s initial authorized participant who is expected to sell shares to the public. In addition, t<\/span><span style=\"font-weight: 400;\">he prospectus summary in the filing stated that NYDIG asset management is the sponsor of the trust, while Delaware Trust Company is the trustee of the Trust and NYDIG Trust Company will hold all of the trust\u2019s bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With regard to the investment objective of the trust, a part of the filing <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1843021\/000119312521043521\/d242572ds1.htm\">read<\/a>:\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">The Trust\u2019s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust\u2019s operations. The Trust will not seek to reflect the performance of any benchmark or index.<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">The development follows the company\u2019s December 2020 <\/span><a href=\"https:\/\/sec.report\/Document\/0001832990-20-000001\/\"><span style=\"font-weight: 400;\">filing<\/span><\/a> with SEC<span style=\"font-weight: 400;\">, which revealed that NYDIG <\/span><span style=\"font-weight: 400;\">raised <\/span><span style=\"font-weight: 400;\">$100 million from an investor for its Digital Assets Fund II.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Digital Investment Group (NYDIG) is seeking to create a Bitcoin exchange-traded fund (ETF) according to a new filing with United States Securities and Exchange Commission (SEC).\u00a0 Provided SEC gives the green light to the fund, NYDIG\u2019s Bitcoin ETF could trade on New York Stock Exchange Arca. If approved, the ticker symbol will be<a href=\"https:\/\/ambcrypto.com\/nydig-seeks-us-sec-approval-to-create-bitcoin-etf\/\">Continue reading <span class=\"sr-only\">&#8220;NYDIG seeks US SEC approval to create Bitcoin ETF&#8221;<\/span><\/a><\/p>\n","protected":false},"author":34,"featured_media":142838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,20],"tags":[],"class_list":["post-142836","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NYDIG seeks US SEC approval to create Bitcoin ETF - AMBCrypto<\/title>\n<meta name=\"description\" content=\"New York Digital Investment Group (NYDIG) is seeking to create a Bitcoin exchange traded fund (ETF) according to a filing with US SEC.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/nydig-seeks-us-sec-approval-to-create-bitcoin-etf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NYDIG seeks US SEC approval to create Bitcoin ETF - 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