Galaxy Digital, one of the leading crypto asset management companies led by Mike Novogratz, has become the latest firm to apply for bitcoin strategy ETFs. There has been a significant increase in the number of companies applying for bitcoin strategy ETFs, which give investors access to the futures market. This stems from comments by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, that a bitcoin ETF based on a Futures Exchange has a higher chance of approval.
The official message stresses that the Fund cannot invest directly in bitcoin, a clear proof of Gary Gensler’s comments.
The fund will be called the Galaxy Bitcoin Strategy ETF, and the fund seeks to increase its value primarily through the active management of bitcoin futures contracts. The fund does not invest directly in bitcoin.
Source: SEC
Investo was the first venture to follow VanEck and now Galaxy Digital for Bitcoin Futures ETFs. Amid growing demand for Bitcoin, regulatory controls have also intensified as the Sec and US lawmakers demand proper regulation of the crypto market to ensure investors are protected.
This story is updated
Breakout message: Galaxy Digital became the latest venture to apply for Bitcoin Futures ETFs, first appearing on Coingape.
