Galaxy Digital files second Bitcoin ETF with SEC

Galaxy Digital has filed a brand new Bitcoin ETF submitting with the SEC, Bloomberg analyst Eric Balchunas revealed. This is the corporate’s second try.

The first try was in April underneath the Securities Act of 1933. This time the corporate will attempt underneath the Securities Act of 1940 and just for Bitcoin futures trading.

Galaxy has simply utilized for a Bitcoin Futures ETF that’s registered underneath the 1940 Act and that may ONLY put money into futures which are as Gensler-ready as doable. This futures submitting # 5. pic.twitter.com/gMLH98mxS5

– Eric Balchunas (@EricBalchunas) 17th August 2021

SEC chairman Gary Gensler has confirmed to be a demanding man with plenty of ETF files piling up on his desk however by no means approving a single proposal. Earlier this summer season, a failed Bitcoin ETF applicant suspected the regulator wasn’t going to approve it anytime quickly, and Gensler had extra urgent priorities.

Recently, the SEC chairman was concerned within the bipartisan Senate invoice that sparked curiosity within the crypto group. Many within the crypto group imagine that the SEC treats the crypto group with double requirements.

When it involves cryptocurrencies, Mike Novogratz, CEO of Galaxy Digital, is a really energetic particular person. Late final yr, Novogratz hoped regulators would settle for cryptocurrencies and bypass rules that hurt the trade.

However, Novogratz will not be the one one who believes in the way forward for cryptocurrencies. Earlier this month, Grayscale introduced the growth of its pool of crypto ETFs and is 100% dedicated to the transition. A day after that announcement, European regulators permitted a Bitcoin ETF submitted by a French fund.

As the United States rushes to safe rules within the crypto area, buyers and builders alike are keeping track of the SEC. If rules stop innovation and formally reject a Bitcoin ETF, the nation will hamper the expansion of the decentralized area.

Annie

According to Beincrypto

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