Galaxy Digital, a cryptographic asset bank run by billionaire Mike Novogratz, filed a request for approval monday to release a bitcoin-listed fund through the Securities and Exchange Commission.
The S-1 form presented is an initial registration filing used through corporations that intend to publicly sign their securities.
Galaxy intends to market its ETF on the NYSE Arca, according to the presentation. The fund has still designated an ETF custodian, so modified deposits are likely to be filed in due course. to a public industry bitcoin ETF in Canada: the CI Galaxy Bitcoin ETF.
Billionaire Mike Novogratz recently said he expects bitcoin to exceed the price of gold in the market as more and more institutional actors enter space. “The more people are interested in this space, the bigger companies, whether it’s Tesla, MicroStrategy or Goldman, or Morgan Stanley, the more people, the harder it is to say ‘hey, we don’t like it anymore,'” he said.
The race intensifies as Galaxy follows 8 other corporations to earn a bitcoin ETF. Regulators compare programs for Fidelity, VanEck, SkyBridge Capital through Anthony Scaramucci, WisdomTree Investments, NYDIG and Valkyrie Digital Assets, and BitWise.
But it is known when the SEC can simply approve programs or whether this can happen.
SEC Commissioner Hester Peirce, popularly known as “crypto mom,” spoke of a transition to control that is causing delays, but is confident that SEC presidential candidate Gary Gensler will mark a turning point for cryptography regulation in the United States this year.