Four months after applying for a Bitcoin exchange-traded fund (ETF) backed by the actual underlying asset, Galaxy Digital is making another attempt, this time, with an investment vehicle tied to Bitcoin futures.
According to the U.S. Securities and Exchange Commission (SEC) filing on Tuesday, the Galaxy Bitcoin Strategy ETF hopes to register under the Investment Company Act of 1940.
The new fund doesn’t invest directly in Bitcoin, seeking instead to provide capital appreciation primarily through the active management of Bitcoin futures contracts.
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