Global X has filed an application to list a spot bitcoin exchange-traded fund (ETF) product, aiming to offer investors bitcoin-based investment offerings. According to the filing, the fund would provide them with the needed protection that they can’t get when investing directly in bitcoin.
This filing marks the ninth active application of its kind, joining the petition by Grayscale to appeal the SEC’s rejection of its proposed spot-bitcoin ETF conversion. Global X has named Coinbase as its surveillance-sharing partner to get the go-ahead from regulators. Other applications such as Fidelity and BlackRock have also announced similar agreements with the exchange.
In addition, the company has filed for permission to create a bitcoin-futures ETF and a fund that tracks the CoinDesk Bitcoin Trend Indicator Index, belonging to the CoinDesk family of companies.