Global X, the subsidiary of a $563 billion asset manager, files to launch a Bitcoin ETF

The exchange-traded funds provider Global X has filed with the U.S. Securities and Exchange Commission (SEC) an application to launch a Bitcoin ETF. If approved, its shares would be listed on the Cboe BZX exchange.

The SEC is expected to begin reviewing the application and provide a decision within 45 days. The regulator may extend the period by up to 240 days, after which it will issue a final ruling.

New York–based Global X offers more than 80 exchange-traded funds focused on various sectors of the economy. The company manages assets worth $35 billion.

In 2018, the provider was acquired by South Korea’s Mirae Asset Global Investments (part of the Mirae Asset Global Group), with assets totaling $563 billion.

Earlier, Wilshire Phoenix co-founder William Cai said that the SEC would give the green light to a Bitcoin ETF, but no approval is expected before 2023.

In July, the regulator postponed review of applications to launch a Bitcoin ETF from SkyBridge Capital. In June, a similar decision was made regarding proposals from VanEck, Kryptoin Investment Advisor and Valkyrie.

Commissioner Hester Peirce expressed dissatisfaction with the agency’s policy on Bitcoin ETFs. According to her, the United States should follow Canada and other countries where the instrument has already been approved.

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