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Galaxy Digital Files for US Bitcoin Futures ETF
The SEC has yet to approve a crypto-based exchange-traded fund.
Updated Sep 14, 2021, 1:40 p.m. Published Aug 17, 2021, 11:48 a.m. 1 min read
Galaxy Digital, a financial-services firm that is led by ex-hedge fund manager Michael Novogratz, has filed with U.S. regulators for a bitcoin futures exchange-traded fund (ETF).
- The fund will invest in futures and will not invest directly in bitcoin, according to the filing with the Securities and Exchange Commission.
- The SEC has yet to approve any of the dozens of applications for crypto ETFs in recent years.
- Earlier this month SEC Chairman Gary Gensler signaled he preferred ETFs based on bitcoin futures.
- Bitcoin futures contracts are subject to the rules of the Chicago Mercantile Exchange (CME).
- In April, Galaxy Digital filed for a bitcoin ETF.
- Galaxy is the sub-adviser to the CI Galaxy Bitcoin ETF, which has $190 million in assets and which trades on the Toronto Stock Exchange.
Read more: Splashy Canadian Bitcoin ETF Sees Inflows Slow as Price Drops
Lebih untuk Anda
CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
Yang perlu diketahui:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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