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Cryptocurrencies: 29444
Markets: 111363
Market Cap: $2,156,628,536,928     
24h Vol: $64,565,452,956
Seeking Alpha 2021-02-17 13:54:45

Bitcoin ETF filing by New York Digital Group (NYDIG)

Bitcoin ETF filing by New York Digital Group (NYDIG)
Amongst the Bitcoin (BTC-USD) craze, another organization has jumped in the water. Financial Services company New York Digital Group (NYDIG) has filed for a Bitcoin ETF with the Securities Exchange Commission. In accordance with the filing by NYDIG, this exchange traded fund will be a pure bitcoin fund. “In seeking to achieve its investment objective, the Trust will hold bitcoin. The Trust will value its assets daily in accordance with Generally Accepted Accounting Principles (“GAAP”).” Additionally, “NYDIG Bitcoin ETF (the “Trust”) is an exchange-traded fund that issues common shares of beneficial interest (the “Shares”) that trade on NYSE Arca, Inc. (the “Exchange”) under a ticker symbol to be announced prior to commencement of trading. The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will not seek to reflect the performance of any benchmark or index.” Bitcoin,
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