Galaxy Digital Files for a Bitcoin Futures ETF in the United States

Galaxy Digital, headed by Mike Novogratz, has applied for a bitcoin futures exchange-traded fund (ETF) under the Investment Company Act of 1940.

- According to the filing, the fund would invest in futures rather than bitcoin directly.

- The Securities and Exchange Commission has yet to accept any of the hundreds of ETF applications filed in recent years.

- SEC Chairman Gary Gensler said earlier this month that he prefers ETFs based on bitcoin futures.

- The Chicago Mercantile Exchange's regulations apply to bitcoin futures contracts (CME).

- Galaxy Digital applied for a bitcoin ETF in April.

- Galaxy is the sub-adviser for the CI Galaxy Bitcoin ETF, which debuted last month with $190 million in assets.

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