The Securities and Exchange Commission (SEC) has received two registration statements from crypto businesses requesting approval to market exchange-traded funds (ETF) related to Bitcoin (BTC) and decentralized financing (DeFi).
Invesco, an Atlanta-based investment firm, teamed up with Galaxy Digital Funds in New York to file and register the Invesco Galaxy Bitcoin ETF, a trust with physically secure private keys.
Amplify ETFs, based in Illinois, has submitted a second registration to add DeFi focused open-end ETF funds to the Amplify ETF Trust.
If the Securities and Exchange Commission approves it, the Invesco Galaxy Bitcoin ETF will be registered as a securities offering and will be able to trade on standard national exchanges in the United States.
The trust will protect Bitcoin private keys with “strong physical barriers to entry, technological surveillance, and continuously roaming patrols,” according to the filing.
The SEC’s acceptance of Amplify ETFs’ FORM N-1A application, on the other hand, will allow the business to issue an unlimited number of additional shares to American investors.
Galaxy, on the other hand, has applied for a Bitcoin ETF for the second time since April 12, with approval expected in October.
Gary Gensler, the head of the US Securities and Exchange Commission, has been pressing crypto companies to register with the authorities.
In a statement dated September 14, Gensler invited crypto-related businesses to “come in and chat to us,” noting case-by-case legal status probabilities.
Gensler expressed similar sentiments in August, calling for a strong crypto regulatory regime to boost investor safety in “crypto financing, issuance, trading, or lending.”
He has recently called for more clarity in the stablecoin ecosystem. “At the casino gaming tables, the poker chip is these stablecoins,” he explained.