Claim BonusBreaking: $30 Billion ETF Firm Global X Files for Bitcoin ETF
Global X, a New York-based global provider of exchange-traded funds with $30 billion in AUM has filed for a Bitcoin ETF with the US SEC. The filing dated 21st July revealed that the name of the ETF would be Global X Bitcoin Trust and it would trade on Cboe BZX Exchange, Inc on approval.
The firm plans to hold Bitcoin in its trust to back the fund rather than using any index or benchmark to trace the price of the ETF. The official filing read,
The Global X Bitcoin Trust (the “Trust”) is an exchange-traded fund that issues common shares of beneficial interest (the “Shares”) that trade on the Cboe BZX Exchange, Inc. (the “Exchange”) under a ticker symbol to be announced prior to commencement of trading. The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will not seek to reflect the performance of any benchmark or index.
Bitcoin ETF Applications Piling Up, But SEC Continues to Delay its Decision
The number of Bitcoin ETF proposals has risen to over a dozen this year including Fidelity, WisdomTree, Wilshire Phoenix, VanEck, and First Trust SkyBridge. The SEC has delayed its decision on three ETF applications already including WisdomTree, VanEck, and Skybrdge capital. While the demand for a regulated Bitcoin product has risen to an all-time high, SEC seems to be in no hurry.
While SEC continues to delay its decision on a Bitcoin ETF, other nations have approved Bitcoin ETFs that are trading on national exchanges with great success. Purpose Bitcoin ETF currently trading on the Toronto stock exchange with nearly $900 million worth of BTC under its management. Many in the US hoped the success of the first Bitcoin ETF would influence the US regulators to take similar steps.
SEC commissioner Hester Peirce and Former CFTC chairman have both called upon SEC to approve the first Bitcoin ETF in the US. Peirce said if SEC used the same criteria as traditional ETF products for Bitcoin, it should have been passed by now.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- US–India Trade Deal: Will Trump’s Tariff Relief Boost Crypto Market?
- Why Is Pi Coin Price Rising Today? Key Reasons Explained
- BestChange Wins Best Crypto Exchange Rate Aggregator at the Crypto Impact Awards 2025
- Arthur Hayes Blames BlackRock’s IBIT Hedging for Bitcoin Crash as BTC Price Rebounds 7%
- When Will the Crypto Winter Finally End?
- Bitcoin and XRP Price Outlook Ahead of Crypto Market Bill Nearing Key Phase on Feb 10th
- Bitcoin Price Prediction as Funding Rate Tumbles Ahead of $2.1B Options Expiry
- Ethereum Price Outlook as Vitalik Buterin Sells $14 Million Worth of ETH: What’s Next for Ether?
- Solana Price at Risk of Crashing Below $50 as Crypto Fear and Greed Index Plunges to 5
- Pi Network Price Prediction Ahead of PI KYC Validator Reward System Launch
- XRP Price Outlook As Peter Brandt Predicts BTC Price Might Crash to $42k
