Galaxy Digital Applies For Bitcoin Derivative ETFs – Bits Media

To the US Securities and Exchange Commission (SEC) applications for launching exchange-traded funds continue to be received (ETF) of bitcoin. BTC futures fund plans to create Galaxy Digital.

SEC Refuses Bitcoin ETF Launch for Years. However, recently the head of the department Gary Gensler (Gary Gensler) He said, that the probability of ETF approval to cryptocurrency futures is noticeably higher than the approval of the Fund for direct investment in crypto assets. Therefore, several companies have already submitted applications for the launch of ETF with indirect investment in bitcoin.

“Galaxy Bitcoin Strategy ETF will not directly invest in bitcoin, Including an urgent market. Investors, who are looking for direct investments in bitcoin, Other tools should consider ", - It is noted in the application.

According to ETF senior analyst at Bloomberg ETF Eric Balchunas (Eric Balchunas), Applications for launching investment funds in cryptocurrency futures "are as close as possible to the position of Hensler".

“The fund can invest in the ETF stock on bitcoin, organized and admitted to trade in Canada or other jurisdictions, as well as other share investment products ", - said in the application.

A previously similar application to the SEC submitted
Vaneck company. but, In this case, the fund will be invested in Canadian cryptocurrency ETFs and, in fact, There will be "ETF Proxy".