ETF issuer Global X has filed for a crypto fund called the Bitcoin Trend Strategy ETF, which is a different version of a bitcoin futures ETF. The proposed ETF aims to measure the directional momentum and strength in bitcoin’s price using CoinDesk’s Bitcoin Trend Indicator. The ETF would offer investors an alternative to spot bitcoin ETFs while they wait for approval from the SEC. Other fund issuers are also exploring niche products in the crypto space. Global X had previously attempted to launch a spot bitcoin ETF, but it was blocked by the SEC. The company currently has 108 ETFs with $43 billion in combined assets under management.
AI Sentiment: Neutral