Global X Joins Firms Filing Bitcoin ETF Application With SEC
The fund manager filed a proposal with the SEC to list the Global X Bitcoin Trust on the Cboe BZX Exchange.
Jul 22, 2021 at 11:45 a.m. UTCUpdated Aug 21, 2021 at 6:39 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/UOTPP2LNM5FALJ5MK3Z6BXOU4M.jpg)
New York-based fund manager Global X Digital Assets has joined the list of firms applying to file a bitcoin exchange-traded fund (ETF) in the U.S.
- The fund manager filed a proposal Wednesday with the Securities and Exchange Commission (SEC) to list the Global X Bitcoin Trust on the Cboe BZX Exchange.
- The ETF will reflect the performance of the price of the world's large cryptocurrency "less the expense of the Trust's operations," according to the filing.
- Custody for the bitcoin purchased by Global X will be provided by an unidentified custodian.
- The SEC is now reviewing more than a dozen similar applications, and hasn't approved any of them. Some have had their formal application windows extended on more than one occasion.
- In May, SEC Chairman Gary Gensler raised concerns before Congress about market manipulation in crypto and investor protection. Market manipulation has been cited as a key concern by the regulator when it rejected past bitcoin ETF applications.
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
Read more: SEC Again Delays VanEck Bitcoin ETF Decision
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)