Global X, the ETF issuer with roughly $44 billion under management, has filed to launch a bitcoin futures fund, as investor demand for crypto products rises in response to rising anticipation for a spot bitcoin fund.
According to a July 20 filing with the SEC, the business, which manages 108 ETFs, would create the fund in collaboration with CoinDesk Indices, a subsidiary of the popular crypto news site.
The fund would follow the CoinDesk Bitcoin Trend Indicator Index, which CoinDesk Indices created using its quantitative pricing predictor.
The registration comes as investors anticipate the Securities and Exchange Commission’s possible approval of the first spot bitcoin exchange-traded fund.
The proposed fund is unique in that it provides exposure to the price swings of bitcoin futures contracts.
