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$30 Billion Global X Filling for New Bitcoin ETF Registration

Thu, 07/22/2021 - 09:23
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Arman Shirinyan
One of the largest ETF providers, Global X, is looking for Bitcoin ETF opening
$30 Billion Global X Filling for New Bitcoin ETF Registration
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New York-based ETF provider Global X is filing for a Bitcoin ETF, according to the registration statement on the SEC website.

Global X is looking to register an exchange-traded fund that will issue and then list shares on the Cboe BZX exchange. The trust will mostly reflect Bitcoin's performance and will hold and manage Bitcoin as its main trading asset.

Global X is known for having approximately $30 billion in its managed assets and more than 80 different products. The company is mainly issuing ETFs and managing funds. In 2018, the company was acquired by Mirae Asset Global Investments, a company located in Seoul, South Korea, with more than $500 billion funds under management.

The ticker and date of the potential listing are yet to be announced by the SEC. Information in the registration form is not yet complete and may change. Global X will have to receive SEC approval before selling securities on the exchange.

Listing of the Bitcoin ETF on the Cboe exchange will attract additional funds from institutional investors and is usually considered "bullish" news for the market in general.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.