A New Application Has Been Added, Galaxy Digital Has Applied For A Bitcoin ETF Focusing On Futures

Galaxy Digital, led by Mike Novogratz, has filed with US regulators for a Bitcoin futures exchange-traded fund (ETF) under the ‘Investment Company Act of 1940’.

According to the filing, the fund will invest in futures and will not invest directly in Bitcoin. The SEC has yet to approve any of the dozens of applications for ETFs in recent years. Earlier this month, SEC Chairman Gary Gensler signaled his preference for Bitcoin futures-based ETFs.

Bitcoin futures contracts are governed by the rules of the Chicago Mercantile Exchange (CME). In April, Galaxy Digital filed for a bitcoin ETF. Galaxy is the sub-advisor of the CI Galaxy Bitcoin ETF, which has $190 million in assets after its launch last month.

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