BTC ETF Hype Reemerges as Global X Amends Filing
Global X ETFs, a New York-based Exchange Traded Fund provider, has updated its filing for a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC). The updated filing reveals that the Global X Bitcoin Trust will trade on the Cboe BZX exchange and will track Bitcoin’s performance, excluding the trust’s expenses and liabilities.
The trust will invest directly in Bitcoin and its shares will be determined daily using the Coindesk Bitcoin Price Index (XBX). Global X is sponsoring the Trust, but has named the Delaware Trust Company as its exclusive trustee. Coinbase will help safeguard the acquired Bitcoin on behalf of the firm. This amendment demonstrates Global X’s readiness to comply with SEC regulations and position itself among applicants with increased approval chances.
(With inputs from Shikha Singh)
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