NYDIG Files For Bitcoin ETF

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Stone Ridge’s NYDIG has filed for a bitcoin ETF with the Securities and Exchanges Commission (SEC). They want the NYDIG Bitcoin ETF to be listed on the New York Stock Exchange (NYSE), the world’s biggest market with about $23 trillion in listed assets. They say: “NYDIG Bitcoin ETF (the “Trust”) is an exchange-traded fund that issues common shares of beneficial interest (the “Shares”) that trade on NYSE Arca, Inc. (the “Exchange”) under a ticker symbol to be announced prior to commencement of trading. The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations. The Trust will not seek to reflect the performance of any benchmark or index. In seeking to achieve its investment objective, the Trust will hold bitcoin. The Trust will value its assets daily in accordance with Generally Accepted Accounting Principles (“GAAP”), which generally value bitcoin by…

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