GlobalX, subsidiary of $560 billion investment manager, files for Bitcoin ETF

ETF provider GlobalX has applied to create a bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). If approved, the trust will trade on the Cboe BZX Exchange.

New York-based GlobalX currently offers 84 ETFs, ranging from cloud computing to cannabis funds. It looks after $35 billion in assets under management (AUM).

In 2018, GlobalX was acquired by Mirae Asset Global Investments, an investment manager with $560 billion in AUM, according to its website.

GlobalX follows several other firms that have also applied to create bitcoin ETFs, including Valkyrie Digital Assets, ARK Investments and Kryptoin.

The SEC has still not yet approved a bitcoin ETF, continually delaying decisions for pending applications.