Mike Novogratz-led Galaxy Digital has filed with U.S. regulators for a bitcoin exchange-traded fund (ETF).
- If greenlit, it'd be the first such investment vehicle to get U.S. approval; the Securities and Exchange Commission (SEC) has swatted away dozens of applications in recent years.
- As of this month, the SEC is reviewing two applications, and companies have filed another six. These other six applications (including Galaxy's) still need exchange partners to file their corresponding forms before the SEC can begin its review.
- In North America, Canada has taken the lead on bitcoin ETFs.
- Galaxy is the sub-adviser to the CI Galaxy Bitcoin ETF, which currently has $190 million in assets after launching last month.
- A Galaxy Digital spokeswoman declined to comment on the latest filing citing SEC rules.
- Galaxy is publically listed on the Toronto Stock Exchange and is in the process of obtaining a U.S. listing.
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