Global X, an ETF provider, has released its spot Bitcoin ETF application

Global X, an exchange-traded fund provider, has withdrawn its application for a spot bitcoin ETF, making it the first company to do so. 

Global X, an exchange-traded fund provider, has withdrawn its application for a spot bitcoin ETF, according to a regulatory filing on Tuesday, becoming the first company to do so since applying to the US Securities and Exchange Commission for approval last year.

According to the company’s website, as of December 2023, its ETFs managed about $51 billion in assets worldwide.

The US Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs earlier this month, including BlackRock’s iShares Bitcoin Trust and Grayscale Bitcoin Trust, among others, following a decade-long battle with the digital asset market.

The items were a watershed event in the cryptocurrency market, opening its doors to a wave of new investors.

Also read: Human intelligence and AI are inextricably linked, and the latter exists to complement and enhance the former, says Tanvir Khan, Chief Digital and Strategy Officer at NTT DATA Services

Do Follow: CIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter 

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.