Galaxy Digital plans Bitcoin futures ETF as fund firms rush to meet hot consumer demand

Mike Novogratz's Galaxy Digital Holdings (OTCPK:BRPHF) has filed for a Bitcoin futures ETF with the U.S. Securities and Exchange Commission, as reported by CoinDesk. The new Galaxy Bitcoin Strategy ETF will invest in Bitcoin futures vs. holding actual Bitcoin. Other ETF issuers are going the same route as regulators drag their feet on authorizing exchange traded funds that hold actual Bitcoin. VanEck, Valkyrie, Invesco and ProShares are all also launching ETFs using the same strategy. Galaxy Digital Holdings previously filed a prospectus for such a U.S. fund in April and launched a Bitcoin ETF on the Toronto Stock Exchange on March 9. Bitcoin (BTC-USD) is currently trading at $46,080, -0.61% on Tuesday's session. Bitcoin has also rallied 55.89% since July 21, the same day the 'B Word' event saw crypto advocates Elon Musk, Jack Dorsey and Cathie Wood talk up Bitcoin and the cryptocurrency markets. Prior to the event, Bitcoin had dropped from its peak of just under $65,000 to less than $30,000