{"id":17039,"date":"2021-04-12T17:01:20","date_gmt":"2021-04-12T17:01:20","guid":{"rendered":"http:\/\/ci02807334b0002496"},"modified":"2021-04-12T17:01:20","modified_gmt":"2021-04-12T17:01:20","slug":"galaxy-digital-files-for-bitcoin-etf-joining-growing-list","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/galaxy-digital-files-for-bitcoin-etf-joining-growing-list","title":{"rendered":"Galaxy Digital Files For Bitcoin ETF, Joining Growing List"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Galaxy Digital, a digital-asset-focused investment firm owned by Mike Novogratz, has submitted a <a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-a-bitcoin-etf\">bitcoin exchange-traded fund (ETF)<\/a> proposal to the U.S. Securities and Exchange Commission (SEC). The move sees Galaxy Digital join a steadily growing list of applicants interested in regulatory approval to offer a bitcoin ETF in the U.S., though none have yet been approved.<\/p>\n<p>Ever since recent management change in the SEC, several investment firms have submitted proposals to offer bitcoin ETFs, <a href=\"https:\/\/bitcoinmagazine.com\/business\/race-for-the-first-bitcoin-etf-in-the-u-s-is-heating-up\">including<\/a> Valkyrie Digital Assets, NYDIG and more. Now, Galaxy has joined the race, with plans to trade on the NYSE Arca and reflect the Bloomberg Galaxy bitcoin index&#8217;s performance, per the proposal.<\/p>\n<p>It is still uncertain if any of the proposals submitted will be accepted, but the ETF market would represent a great coup for any cryptocurrency investment firm that manages to corner it. ETFs have several advantages as investment vehicles, including cheaper and more accessible shares. Though a bitcoin ETF would not offer bitcoin exposure directly, it would allow investors closer access to one of the greatest-performing assets in history.<\/p>\n<p>For instance, the Purpose Bitcoin ETF, the first such product granted regulatory approval in North America, quickly broke <a href=\"https:\/\/bitcoinmagazine.com\/markets\/first-ever-north-american-bitcoin-etf-breaks-records-in-opening-week\">investment records<\/a> upon becoming available. Given bitcoin\u2019s recent price performance and the influx of more typically risk-adverse investors into the BTC market, it\u2019s more than likely that a U.S.-based bitcoin ETF would see immediate and sustained success.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital is now among the handful of groups that have filed for regulatory approval to offer a bitcoin ETF.<\/p>\n","protected":false},"author":3283,"featured_media":16666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[212,622],"class_list":{"0":"post-17039","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bitcoin-etf","9":"tag-galaxy-digital"},"author_data":{"id":3283,"name":"Oluwapelumi Adejumo","nicename":"oluwapelumi-adejumo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/oluwapelumi-adejumo-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/galaxy-digital.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/17039","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\/3283"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=17039"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/17039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/16666"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=17039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=17039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=17039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}