Bitcoin
$64,818.83+5.28%
Ethereum
$3,096.13+3.14%
Binance Coin
$560.31+3.30%
Solana
$143.85+9.59%
XRP
$0.49864123+2.34%
Toncoin
$7.20+19.39%
Dogecoin
$0.15220260+5.12%
Cardano
$0.46277403+4.22%
Shiba Inu
$0.00002283+4.59%
Avalanche
$35.36+3.08%
Wrapped Bitcoin
$64,981.23+7.05%
Tron
$0.10907086-0.68%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
09
HR
33
MIN
45
SEC
Policy

Global X Joins Firms Filing Bitcoin ETF Application With SEC

The fund manager filed a proposal with the SEC to list the Global X Bitcoin Trust on the Cboe BZX Exchange.

By Jamie Crawley
AccessTimeIconJul 22, 2021 at 11:45 a.m. UTC
Updated Mar 8, 2024 at 4:30 p.m. UTC
SEC, Securities and Exchange Commission
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

New York-based fund manager Global X Digital Assets has joined the list of firms applying to file a bitcoin exchange-traded fund (ETF) in the U.S.

  • The fund manager filed a proposal Wednesday with the Securities and Exchange Commission (SEC) to list the Global X Bitcoin Trust on the Cboe BZX Exchange.
  • The ETF will reflect the performance of the price of the world's large cryptocurrency "less the expense of the Trust's operations," according to the filing.
  • Custody for the bitcoin purchased by Global X will be provided by an unidentified custodian.
  • The SEC is now reviewing more than a dozen similar applications, and hasn't approved any of them. Some have had their formal application windows extended on more than one occasion.
  • In May, SEC Chairman Gary Gensler raised concerns before Congress about market manipulation in crypto and investor protection. Market manipulation has been cited as a key concern by the regulator when it rejected past bitcoin ETF applications.


Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.