Bitcoin

<ul> 
 <li>Global X’s spot-bitcoin filings represent the ninth current spot-bitcoin application.</li> 
 <li>The firm has also applied for approval to establish a bitcoin-futures ETF.</li> 
</ul> 
On Friday, <a href="https://www.globalxetfs.com/" target="_blank" rel="noopener noreferrer nofollow">Global X</a> joined other industry participants in submitting paperwork to list a spot bitcoin exchange-traded fund (ETF) product. If the fund gets the go-light from regulators, it will boost widespread Bitcoin exposure. 
In addition to Grayscale’s petition to appeal the <a href="https://thenewscrypto.com/coinbase-files-brief-seeking-dismissal-of-sec-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">SEC’s</a> denial of its intended spot-bitcoin ETF conversion, Global X’s spot-bitcoin filings represent the ninth current spot-bitcoin application filed with U.S. authorities. To get approval from authorities, Global X, a supplier of other ETF products, has chosen Coinbase as its surveillance-sharing partner. 
<h3 class="wp-block-heading" id="h-tough-road-ahead">Tough Road Ahead</h3> 
Other pending applications, such as those from Fidelity and <a href="https://thenewscrypto.com/bitcoin-news-u-s-government-investigates-blackrocks-chinese-investments/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>, have also disclosed similar agreements with Coinbase in response to earlier SEC refusals of bitcoin ETF applications, which cited the absence of a robust surveillance-sharing agreement as one of the reasons for the decision. Global X has applied for approval to establish a bitcoin-futures ETF in addition to a spot-bitcoin ETF. 
Several issuers have registered to create a spot bitcoin exchange-traded fund (ETF). Concerns about exploitation and a lack of oversight from the exchanges on which the ETFs would be listed have led the SEC to regularly reject such applications. 
When BlackRock submitted paperwork to launch a spot Bitcoin ETF last month, it sparked the most recent round of applications and resubmissions. After BlackRock’s application, other major financial institutions rapidly followed suit. 
On the other hand, <a href="http://coinbase.com" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> has filed a brief in the New York federal court. The SEC filed suit against the company in June over sales of unregistered securities. 
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Global X Submits Paperwork for Spot Bitcoin ETF

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