Galaxy Digital Files for US Bitcoin Futures ETF

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Mike Novogratz-led Galaxy Digital has filed with U.S. regulators for a bitcoin futures exchange-traded fund (ETF) under the Investment Company Act of 1940.

  • The fund will invest in futures and will not invest directly in bitcoin, according to the filing.
  • 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 he preferred ETFs based on bitcoin futures.
  • Bitcoin futures contracts are subject to the rules of the Chicago Mercantile Exchange (CME).
  • In April, Galaxy Digital filed for a bitcoin ETF.
  • Galaxy is the sub-adviser to the CI Galaxy Bitcoin ETF, which has $190 million in assets after launching last month.

Read more:  Splashy Canadian Bitcoin ETF Sees Inflows Slow as Price Drops

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