Galaxy Digital Applies for Bitcoin Futures ETF
Aug 17, 2021
Galaxy Digital filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to create a bitcoin futures exchange-traded fund under the Investment Company Act of 1940.
This action followed Galaxy Digital's initial application to create a bitcoin ETF, which was rejected.
Notably, the Mike Novogratz-led company, which had $1.42 billion in assets as of June 30, 2021, will invest in bitcoin futures and other financial instruments, not directly in bitcoin.
The Chicago Mercantile Exchange's laws apply to Bitcoin ETF registrations.
The submission is in line with SEC Chairman Gary Gensler's latest preferences, which he articulated only a few weeks ago.
Following those statements, a slew of firms applied for approval of a Bitcoin Futures ETF. VanEck, Invesco, Goldman Sachs, Grayscale Bitcoin Trust, and Viridi Funds, for example, have all recently registered for or begun to provide Bitcoin ETFs as investment vehicles.
The increase in ETF registrations by major corporations reflects a substantial and rising desire in the United States for exposure to Bitcoin through traditional investment vehicles.
Following Gensler's announcement that filings based on Bitcoin futures may have the best chance of being approved, it's likely that more companies will use this approach.
Subscribe Our Newsletter
While Bullard is now a longer-term hawk wanting more intervention from the Federal Reserve to control inflation, prior statements this week hinted that other central bankers were warming to the concept of tightening policy.
Stocks
Milena
This Time Apple iPhone Growth May Not Overtake CompetitorsAccording to UBS, Apple will ship 229 million iPhones this year, which is a 0.7% decrease from the previous year. Let’s look closer into the situation.
Companies
Liquidity Provider
How Does the Cryptocurrency Exchange Business Work?Unlike any other moment in contemporary history, the universal adoption of Bitcoin has been unparalleled. There has been a rapid growth in the number of firms that specialize in bitcoin.
Crypto Exchange Business