Last month, we had reported that a slew of companies had filed for approvals for Bitcoin ETF from the Securities and Exchange Commission (SEC). There are about nine applications before the SEC awaiting approval. This includes: Fidelity Investments, Goldman Sachs, Van Eck Global, New York Digital Investment, SkyBridge Capital, Group WisdomTree Investments and a few others.
A recent report from us also showed that Grayscale, the mammoth crypto fund management company, could is seeking SEC’s approval to change its Bitcoin Trust into an ETF.
Purpose Bitcoin ETF, the first ever Bitcoin ETF, was greeted with so much pomp when it launched in Canada. The huge fund inflow it witnessed in Canada is pushing several American crypto based companies to seek approval from SEC which according to a commissioner for the regulator is long overdue in the country.
Galaxy Digital Files For Bitcoin ETF
Mike Novogratz’s Galaxy Digital has joined the fray as it has filed for a Bitcoin ETF with SEC. Based on the filing, they are yet to appoint a custodian, a transfer agent or an administrator. However, the filing as named NYSE Arca as the intended exchange venue.
Galaxy Digital is a sub-advisor to CI Galaxy Bitcoin ETF, which only last month had realized $190 million in assets from its launch. If approved, the Galaxy Bitcoin ETF would make use of Bloomberg owned Galaxy Bitcoin Index for its pricing system.
The filing is on the heels of a strong showing in the last quarter of 2020. Mike Novogratz said the company is witnessing growth in trading, asset management and crypto mining. There are also plans to have a secondary listing on a US-based location.