NYDIG files to create a new bitcoin ETF, becoming latest firm to seek SEC approval

NYDIG files to create a new bitcoin ETF, becoming latest firm to seek SEC approval
HoofdpuntenNieuwsNYDIG files to create a new bitcoin ETF, becoming latest firm to seek SEC approval

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NYDIG files to create a new bitcoin ETF, becoming latest firm to seek SEC approval

The Block2 months ago
Gepubliceerd op February 16, 2021 02:44 GMT+0bijgewerkt op February 16, 2021 03:00 GMT+0

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Bitcoin custody and trading services provider NYDIG has filed to create a bitcoin exchange-traded fund, public filings show.

NYDIG's S-1 filing, published Tuesday, represents the latest salvo in a years-long cumulative effort to win approval for such a product by U.S. regulators. To date, no bitcoin ETF has been approved by the SEC.

NYDIG's filing notably reveals that Morgan Stanley will serve as the proposed ETF's authorized participant. If approved, NYDIG's bitcoin ETF will trade on the NYSE Arca exchange. NYDIG subsidiaries NYDIG Asset Management LLC and NYDIG Trust Company LLC would serve as sponsor and bitcoin custodian, respectively.

"The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will …