{"id":15084,"date":"2021-08-17T14:06:21","date_gmt":"2021-08-17T14:06:21","guid":{"rendered":"http:\/\/ci028ae7d5700025a2"},"modified":"2021-08-17T14:06:21","modified_gmt":"2021-08-17T14:06:21","slug":"galaxy-digital-files-for-bitcoin-futures-etf","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/galaxy-digital-files-for-bitcoin-futures-etf","title":{"rendered":"Galaxy Digital Files for Bitcoin Futures ETF"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>The move follows Galaxy Digital\u2019s <a href=\"https:\/\/bitcoinmagazine.com\/markets\/galaxy-digital-files-for-bitcoin-etf-joining-growing-list\">initial filing<\/a> for a Bitcoin ETF, though that effort was not approved.<\/p>\n<p>Notably, the Mike Novogratz-led company, which boasts $1.42 billion in assets under management as of 30 June 2021, would not invest in Bitcoin directly, but rather Bitcoin futures and other investment vehicles. <\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-a-bitcoin-etf\">Bitcoin ETF<\/a> filings are subject to the regulations of the Chicago Mercantile Exchange.<\/p>\n<p>The filing is in accordance with recent preferences <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-sec-gary-gensler-aspen-forum\">expressed by SEC Chairman<\/a> Gary Gensler just weeks ago. <\/p>\n<p>In the weeks that followed those comments a series of funds filed for Bitcoin Futures ETF approval. Notably <a href=\"https:\/\/bitcoinmagazine.com\/business\/vaneck-files-for-bitcoin-futures-etf-again\">VanEck<\/a>, <a href=\"https:\/\/bitcoinmagazine.com\/business\/invesco-bitcoin-etf-filing\">Invesco<\/a>, <a href=\"https:\/\/bitcoinmagazine.com\/business\/goldman-sachs-to-offer-a-note-tied-to-an-etf-capable-of-investing-in-bitcoin\">Goldman Sachs<\/a>, <a href=\"https:\/\/bitcoinmagazine.com\/business\/bny-mellon-service-provider-gbtc\">Grayscale Bitcoin Trust<\/a> and <a href=\"https:\/\/bitcoinmagazine.com\/press-releases\/viridi-funds-launches-rigz-etf\">Viridi Funds<\/a> have all recently filed for or begun to offer investment vehicles tied to Bitcoin ETFs.<\/p>\n<p>The uptick in ETF registrations by large firms is testament to a large and growing demand for exposure to Bitcoin through traditional investment vehicles in the United States.<\/p>\n<p>Following Gensler\u2019s signaling that fillings based on Bitcoin futures may have the highest chance of approval, it can be expected more firms will follow suit with this strategy.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital has filed with the SEC for a Bitcoin futures exchange-traded fund under the Investment Company Act of 1940.<\/p>\n","protected":false},"author":2936,"featured_media":15085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[944,622],"class_list":{"0":"post-15084","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-etf","9":"tag-galaxy-digital"},"author_data":{"id":2936,"name":"Alex Mcshane","nicename":"bitcoin-journalist-alex-mcshane","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/3dd6bbed938cbadeed734dfff7b3964c2a43e2784e2d9ead80b8d5476f8209f1?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/galaxy-digital-crypto-ninjas.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2936"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=15084"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/15084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/15085"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=15084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=15084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=15084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}