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Global X Files Application for Bitcoin ETF with Investor Protections

Global X has submitted an application to list a spot bitcoin ETF product, which would provide investors with exposure to bitcoin while offering important protections not available to those who invest directly in the cryptocurrency. This marks the ninth active spot-bitcoin application filed with US regulators, and Global X has named Coinbase as its surveillance-sharing partner to gain regulatory approval. Other pending applications, including those from Fidelity and BlackRock, have also announced surveillance-sharing agreements with the exchange in response to previous SEC rejections of bitcoin ETF applications. Global X has also filed for permission to create a bitcoin-futures ETF and establish a fund that tracks the CoinDesk Bitcoin Trend Indicator Index.

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