coinfomania.com
Canada-based digital asset bank Galaxy Digital has joined a growing list of firms applying to launch a Bitcoin exchange-traded fund (ETF) in the United States.
According to a preliminary prospectus filed with the United States Securities and Exchange Commission (SEC), the proposed Galaxy Bitcoin ETF will trade on NYSE Arca and “reflect the performance of the Bloomberg Galaxy Bitcoin Index.”
Like other applications submitted so far, the Galaxy Bitcoin ETF intends to “hold bitcoin and will value its shares daily based on the value of the Index.” Also, shareholders will be able to buy or sell shares during the day using their broker, although the price will be at either a premium or discount relative to the net asset value of the Shares.
More to follow…
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