Another Major Investment Firm Refiles for Spot-Bitcoin ETF Application

Global X, a company that provides different investment funds, has applied to create a Spot-bitcoin exchange-traded fund (ETF). If approved, this fund would give investors a safer way to invest in bitcoin. This is the ninth such application in the U.S., including one from Grayscale, which is trying to reverse the rejection of its own bitcoin ETF.

Global X has partnered with Coinbase to meet the regulators' requirements. 

Other companies like Fidelity and BlackRock also want to create bitcoin ETFs and have made similar partnerships. This is in response to the regulators' previous rejections due to weak surveillance agreements.

Apart from the Spot-bitcoin ETF, Global X is also seeking permission to create a bitcoin-futures ETF.

The recent trend of filing for Bitcoin ETFs, like what Global X is doing, shows that more traditional finance companies are starting to accept cryptocurrency. If these applications are approved, we might see a lot more money being invested in cryptocurrencies. With these ETFs, people who were unsure about investing directly in cryptocurrencies like Bitcoin because of their price changes, can now do so more easily. 

Plus, ETFs can provide better security, which can lower the risks of hacking or loss. So, if these ETFs are approved, it could make the price of Bitcoin and other cryptocurrencies go up and become more stable, which would be a big step for their acceptance in the mainstream market.