Simplify Exchange Traded Funds has filed with the SEC to launch an ETF that will invest indirectly in BTC through the Grayscale Bitcoin Trust, as well as in US equity securities.
According to a filing with the US Securities and Exchange Commission (SEC), Simplify Exchange Traded Funds wants to launch an ETF that will invest 15% of BTC assets through the Grayscale Bitcoin Trust (GBTC), and the rest of the money will be invested in US equity securities. companies.
If approved, the Simplify US Equity PLUS Bitcoin ETF will be traded on the Nasdaq under the ticker SPBC. BNY Mellon will be the ETF Administrator, Securities Issuer and Transfer Registration Agent, as well as the custodian of cryptoassets and an expert in balance sheet and financial reporting analysis. The application says:
“The fund expects to gain access to cryptocurrencies indirectly by investing up to 15% of its total assets in a wholly owned and controlled subsidiary. This will enhance the Fund’s ability to access cryptocurrencies subject to the restrictions and requirements of US federal tax laws applicable to regulated investment companies. ”
The US Securities and Exchange Commission has yet to approve a single application to launch a Bitcoin ETF, having denied many companies in recent years. VanEck recently filed a third preliminary filing with the SEC asking for approval to launch an exchange-traded fund for bitcoin.
At the same time, the Canadian regulator has already allowed the launch of three Bitcoin ETFs since the beginning of the year. This week, the Ontario Securities Commission approved the launch of a Bitcoin ETF from CI Global Asset Management and Galaxy Digital.
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