skip to Main Content
bitcoin
Bitcoin (BTC) $ 98,681.44 0.56%
ethereum
Ethereum (ETH) $ 3,452.05 4.47%
tether
Tether (USDT) $ 1.00 0.08%
solana
Solana (SOL) $ 260.21 1.41%
bnb
BNB (BNB) $ 672.32 8.04%
xrp
XRP (XRP) $ 1.55 8.64%
dogecoin
Dogecoin (DOGE) $ 0.466646 16.50%
cardano
Cardano (ADA) $ 1.10 22.12%
usd-coin
USDC (USDC) $ 1.00 0.09%
staked-ether
Lido Staked Ether (STETH) $ 3,464.18 4.86%

Second Attempt In 4 Months: Novogratz’s Galaxy Digital Files for a Bitcoin Futures ETF

After filing with the SEC to receive approval for a Bitcoin ETF in April this year, Galaxy Digital has reportedly tried again – this time, under a different section. Novogratz’s company wants to launch a Bitcoin futures-only exchange-traded fund.

  • Bloomberg’s senior analyst, Eric Balchunas, took it to Twitter to highlight Galaxy Digital’s latest attempt to release a Bitcoin ETF in the states.
  • Instead of going with the more traditional way of filing with the SEC under the securities act of 1933, as it did in April 2021, the company has tried a different approach this time – under the securities act of 1940.
  • The Chair of the Securities and Exchange Commission – Gary Gensler – previously hinted that this route could have a higher chance of receiving the green light. This is why VanEck – another financial giant who has tried more than once with the SEC – filed for a BTC ETF under the 1940 Act recently as well.
  • Similarly to VanEck, Galaxy Digital’s latest attempt will focus on Bitcoin futures only. If approved, it will come with a ticker – Galaxy Bitcoin Strategy ETF.
  • It’s worth noting that the company, founder and run by Mike Novogratz, already has an active Bitcoin ETF.
  • As reported earlier this year, Canada’s securities regulator approved such a product, which launched on the Toronto Stock Exchange on March 9th. Galaxy Digital Capital Management acts as the sub-advisor to CI Global Asset Management.
  • Additionally, Canada has two more operating BTC ETFs, while the SEC has been reluctant to approve even one. Over a dozen have been rejected, while applications from VanEck and SkyBridge Capital were delayed recently.
Loading data ...
Comparison
View chart compare
View table compare
Back To Top