In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$91,116.00
6.93%$2,307.10
4.72%$2.64
18.12%$598.22
-0.82%$159.26
13.02%$0.999887
0.01%$0.967417
49.63%$0.217572
7.43%$2,309.59
4.33%$0.243558
3.85%$90,659.00
6.66%$0.252737
2.51%$16.50
13.89%$0.324123
3.61%$2,752.13
4.73%$23.53
8.31%$2.93
4.88%$10.03
3.00%$115.23
-2.94%$3.32
0.36%$0.0000139
2.67%$0.998703
-0.11%$4.92
7.10%$7.41
-1.08%$342.34
8.38%$2,301.45
4.54%$19.40
4.09%$0.998527
-0.05%$4.54
10.53%$2,445.67
4.74%$7.81
5.66%$30.92
16.09%$230.32
2.82%$3.29
3.11%$6.32
1.05%$1.14
13.51%$0.00000812
6.82%$6.80
4.02%$204.63
6.76%$1.041
0.01%$19.94
5.17%$15.01
11.53%$21.82
3.69%$45.72
-0.32%$325.69
0.74%$90,939.00
6.86%$0.757768
2.56%$0.02993465
6.61%$0.279753
0.98%$29.75
8.02%$0.271198
10.22%$0.082649
13.14%$4.20
11.74%$0.084068
10.78%$3.33
3.84%$0.662868
-8.55%$0.996731
-0.19%$3.79
-8.31%$4.58
3.48%$0.73972
-0.31%$0.426296
2.85%$91,053.00
7.09%$0.683573
6.33%$1.085
2.85%$4.02
1.44%$6.02
-1.88%$11.78
3.74%$2,297.57
3.75%$90,709.00
6.72%$92.99
1.01%$2,399.16
5.27%$13.35
5.23%$0.409608
5.88%$1.19
10.22%$1,488.22
-9.01%$0.080047
-0.20%$0.70409
2.02%$0.813062
2.78%$1.21
5.66%$1.21
4.32%$0.249622
2.69%$2,593.69
4.49%$0.120988
3.21%$165.11
13.03%$1.28
4.97%$0.471168
6.72%$0.00001383
4.59%$0.997844
0.04%$0.01802649
8.56%$18.41
2.55%$2,433.59
3.52%$90,413.00
6.80%$0.603852
8.29%$0.01889246
6.98%$0.02041489
6.45%$0.233655
13.93%$0.00920634
10.96%$0.806859
7.27%$7.57
-12.41%$0.332618
6.35%$0.00008152
3.02%$201.18
12.53%$2.61
8.10%$0.998548
-0.14%$0.484326
2.91%$0.00000076
4.34%$22.27
6.48%$595.77
-1.15%$0.741389
12.88%$0.203028
1.98%$36.85
5.97%$90,709.00
6.67%$2,866.00
0.40%$0.12115
1.53%$1.088
5.31%$2.41
7.01%$2,388.36
4.59%$24.43
13.52%$9.50
1.15%$172.57
11.71%$0.01948401
18.09%$2.63
6.90%$0.499509
17.56%$40.23
0.77%$0.998664
0.16%$0.980606
4.28%$2,883.36
0.83%$0.215436
5.94%$3.34
3.70%$3.72
2.43%$0.611932
23.02%$0.114457
2.82%$0.216752
6.54%$0.297442
3.25%$0.731617
6.92%$8.24
2.59%$2,303.09
4.62%$0.99965
-0.04%$89,244.00
6.88%$1.82
-6.55%$2,432.49
4.34%$0.999594
-0.05%$0.073956
1.35%$0.515314
6.49%$2,303.45
4.10%$0.65032
7.51%$0.00798524
-6.64%$0.995743
-0.01%$0.278479
0.62%$0.619131
0.93%$0.995265
-0.07%$1.38
8.92%$0.050364
1.19%$0.439234
2.19%$1.95
-15.90%$0.00002384
5.83%$91,105.00
6.42%$2.78
0.41%$2,301.31
4.63%$51.09
3.65%$90,886.00
5.69%$0.99988
0.01%$1.97
-3.77%$110.15
0.00%$0.389572
11.27%$0.380153
8.24%$0.00000044
3.41%$1.031
-2.44%$0.00814733
1.95%$0.04326317
18.72%$0.0076216
5.35%$0.00499854
1.99%$0.00456047
14.06%$1.085
0.59%$0.987529
0.77%$1.62
1.87%$1.63
3.82%$90,681.00
6.86%$23.94
0.33%$1.095
-0.02%$150.62
-10.98%$0.417786
3.42%$0.3882
26.49%$0.316811
2.51%$0.00006938
4.28%$4.81
0.49%$0.131603
-1.66%$1.00
0.00%$2,298.35
3.47%$2,355.30
4.85%$0.147643
9.11%$2,283.13
4.73%$0.352641
47.86%$0.353556
68.77%$0.096206
3.00%$2,513.94
4.58%$0.00456757
38.52%$0.332651
13.43%$0.243176
1.20%$0.982878
8.73%$2,300.29
4.52%$0.03303387
2.90%$0.997897
-0.41%$2,436.73
5.87%$0.319955
-5.96%$19.59
4.87%$2,428.76
4.10%$25.99
3.19%$2,350.87
6.35%$0.720086
-2.72%$3.26
2.87%$0.620968
2.79%$1.006
0.54%$2,498.89
4.72%$0.04372132
-0.45%$0.00294732
1.56%$0.00649029
-0.97%$90,633.00
6.46%$0.13143
3.32%$1,809.87
5.87%$90,786.00
6.04%$0.999714
-0.01%$2.59
3.43%$5.08
7.26%$0.142506
-6.01%$0.03692275
0.09%$6.93
-13.24%$0.492699
-1.88%$0.605496
10.17%$0.01390354
4.48%$0.271089
16.65%$6.98
7.45%$0.04016556
5.51%$0.00000013
-1.55%$0.731212
5.66%$2.49
-0.43%$0.00301994
6.04%$6.61
4.06%$17.92
13.34%$12.17
2.84%$0.169198
2.53%$0.00000065
2.29%$2,457.03
3.32%$0.00141368
3.75%$0.294549
2.81%$0.137047
2.72%$0.593305
-2.93%$0.03689385
-5.21%Reading
Cryptocurrency investment firm Galaxy Digital has filed for a Bitcoin exchange-traded fund (ETF)—the eighth company hoping for approval from the Securities and Exchange Commission (SEC).
The application, filed today, is asking the SEC for an ETF to run in the NYSE Arca, an exchange on which both stocks and options are traded.
An ETF allows investors to buy and sell shares that represent the value of an underlying asset continually throughout the day. A Bitcoin ETF, then, would allow investors to buy shares that represent the digital asset. In other words, it’s a way to bet on the price of Bitcoin without the need to buy and store the cryptocurrency itself.
A BitcoinBitcoin ETF doesn’t exist in the US yet but seven other companies are awaiting approval from the SEC.
“The Sponsor [Galaxy Digital] believes that the Trust will provide a cost-efficient way for Shareholders to implement strategic and tactical asset allocation strategies that use bitcoin by investing in the Shares rather than purchasing, holding and trading bitcoin directly,” the application reads.
A third Bitcoin exchange traded fund (ETF) has been approved by Canadian securities regulators, as CI Global Asset Management prepares their own BTC-based offering. The CI Galaxy Bitcoin ETF will launch tomorrow, March 9, under the symbol BTCX on the Toronto Stock Exchange. The new ETF will join the Purpose Bitcoin ETF (BTCC) and Evolve Bitcoin ETF (EBIT), both of which launched just last month. The slate of Bitcoin ETF launches in North American markets is another sign of BTC becoming an instit...
Galaxy is a major New York-based crypto investment firm headed-up by billionaire Bitcoin bull, Mike Novogratz. It manages over $400 million in assets.
Along with Galaxy Digital, Anthony Scaramucci’s SkyBridge Capital, the New York Digital Investment Group (NYDIG), and ETF provider VanEck are some of the other companies that have applied for the product.
But the SEC has repeatedly rejected applications for a Bitcoin ETF in the US, citing concerns over manipulation of the market.
Bitcoin ETFs do exist elsewhere, though. The world’s first Bitcoin ETF got approval in Bermuda last year.
And in Canada, the products have been very popular. Right now, there are three Bitcoin ETFs trading there, which hold a total of 16,600 Bitcoin ($992 million) between them.
When the first one, Purpose Bitcoin ETF, launched (the first Bitcoin ETF in North America), it traded $80 million in its first hour—more than many ETFs do in an entire week.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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