The New York Digital Investments Group (NYDIG) has filed an application to launch a Bitcoin ETF with the US Securities and Exchange Commission (SEC). If approved by the SEC, the firm will launch a Bitcoin ETF in 2021.
According to the filing filed by NYDIG, the company hopes to launch an exchange-traded fund (ETF) for Bitcoin next year. The SEC has previously reviewed numerous applications for the launch of Bitcoin ETFs, but they were all rejected.
Over the past few months, such applications have been submitted by VanEck and Valkyrie. The NYDIG filing lists Morgan Stanley as the initial authorized ETF participant. Recently it became known that the investment arm of Morgan Stanley is considering investing in bitcoin.
In January, Ark Investment Management CEO Catherine Wood said that US regulators are unlikely to approve Bitcoin ETFs before the cryptocurrency’s market capitalization reaches $ 2 trillion.
The likelihood of this event is growing, given the unprecedented rise in the price of the first cryptocurrency in recent weeks – yesterday Bitcoin for the first time in history rose above $ 50,000.
Recall that the United States missed the opportunity to become the first North American country to launch a Bitcoin ETF – earlier this month, the Canadian regulator approved the launch of the Purpose Bitcoin ETF and the Evolve Bitcoin ETF.
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