Galaxy Digital, a financial services and investment management company, has filed with the US Securities and Exchange Commission (SEC) for a bitcoin-focused exchange traded fund (ETF).
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According to a regulatory filing, the company plans to trade the ETF on NYSE Arca, Inc. The ETF will reflect the performance of the Bloomberg Galaxy bitcoin Index.
Galaxy Digital's ETF will also hodl bitcoin (EXANTE: Bitcoins). However, it remains unknown who will store the cryptocurrency for Galaxy Digital as a custodian. Galaxy Digital's filing comes after it launched its own Bitcoin ETF on the Toronto Stock Exchange.
Canadian regulators have approved the offering from CI Global Asset Management (CI GAM) with the cryptocurrency investment firm acting as sub-advisor. Besides Galaxy Digital, other financial institutions like Fidelity, Wisdom Tree, SkyBridge, NYDIG and many more have also submitted their applications.
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