Galaxy Digital Files For Bitcoin ETF

Galaxy Digital, a publicly-listed digital assets management company headed by Mike Novogratz is the latest firm to file for a bitcoin exchange-traded fund.

If approved, it will trade at the NYSE Arca Exchange with the value of the shares based on the Bloomberg Galaxy Bitcoin Index.

Galaxy Digital is among the eight companies to file for a bitcoin ETF in the US with two companies already in reviews and waiting for the SEC’s approval.

A bitcoin exchange-traded funds  track the value of Bitcoin and trade on traditional market exchanges rather than cryptocurrency exchanges and  allow investors to invest in bitcoin without having to go through the hassle of using a cryptocurrency exchange while providing leverage to its price.

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