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GlobalX Files Application for Bitcoin Trend Strategy ETF in Partnership with Coindesk Indices

GlobalX ETF has partnered with Coindesk Indices to apply for a Bitcoin Trend Strategy ETF, which will use trend-following indicators to allocate between exchange-traded Bitcoin futures contracts. The potential effective date for the ETF is March 10, 2024. Bloomberg journalist James Seyffart believes that the US Securities and Exchange Commission (SEC) is likely to approve the application, as it is not a Spot Bitcoin ETF. The renewed interest in Bitcoin ETFs has caused the price of Bitcoin to rise to a yearly high above $31,000, with several traditional financial institutions applying for ETFs in the past few months.

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