Galaxy Digital Files For Bitcoin Future ETF With U.S. SEC.

Galaxy Digital Files For Bitcoin Future ETF With U.S. SEC.

2021-08-17 | Eddy Morgan

Galaxy Digital Files For Bitcoin Future ETF With U.S. SEC.

Mike Novogratz-led Galaxy Digital has filed with United States regulators for a Bitcoin [BTC] futures ETF [Exchange-traded Fund] under the Investment Company Act of 1940. The fund will invest in futures and can not invest directly in bitcoin, consistent with the filing. The SEC has yet to approve any of several applications for ETFs in recent years. Earlier this month SEC Chairman Gary Gensler signaled he preferred ETFs supported bitcoin futures. Bitcoin futures contracts are subject to the principles of the CME [Chicago Mercantile Exchange]. Earlier in April, Galaxy Digital filed for a bitcoin ETF. Galaxy is the sub-adviser to the CI Galaxy Bitcoin ETF, which already has $190 Mln in assets after launching last month.

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