{"id":196785,"date":"2021-03-08T15:50:04","date_gmt":"2021-03-08T12:50:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities\/"},"modified":"2021-03-08T15:50:04","modified_gmt":"2021-03-08T12:50:04","slug":"galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities\/","title":{"rendered":"# Galaxy Digital Bitcoin ETF to launch this week as exec eyes &#8216;compelling opportunities&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37c615e5a08\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37c615e5a08\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities\/#Purpose_ETF_gets_major_competitor\" >Purpose ETF gets major competitor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities\/#GBTC_negative_premium_rebounds_from_record\" >GBTC negative premium rebounds from record<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Galaxy Digital Bitcoin ETF to launch this week as exec eyes &#8216;compelling opportunities&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) exchange-traded funds (ETFs) continue to multiply as a new entrant hits the Canadian market on March 9.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20210308005201\/en\/CI-Galaxy-Bitcoin-ETF-to-Launch-on-the-TSX-on-March-9\">press release<\/a> on Monday, Galaxy Digital Capital Management, a subsidiary of financial services and investment management company Galaxy Digital, confirmed that the CI Galaxy Bitcoin ETF would likely start trading this week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Purpose_ETF_gets_major_competitor\"><\/span>Purpose ETF gets major competitor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The launch will see Galaxy join the TSX Purpose Bitcoin ETF as one of the pioneering ETF products in North America, with United States regulators yet to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rove a single application. <\/p>\n<p>As Cointelegraph reported, Purpose has seen huge interest and associated volumes since its ETF went live last month, around the same time that Galaxy filed with regulators. <\/p>\n<p>\u201cWe believe the emerging digital asset class presents compelling growth and diversification opportunities,\u201d Steve Kurz, Partner and Head of Asset Management at GDAM, which will executive trading for the Galaxy product, commented in the press release. <\/p>\n<blockquote><p>\u201cThe CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"GBTC_negative_premium_rebounds_from_record\"><\/span>GBTC negative premium rebounds from record<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional demand for Bitcoin exposure has been unfazed by price volatility and negative press, with a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/zephyrnet.com\/goldman-sachs-crypto-survey-shows-22-of-respondents-expect-100000-plus-bitcoin\/\">recent survey<\/a> from Goldman Sachs showing that 40% of clients are already involved.<\/p>\n<p>The ETF boom is meanwhile providing new competition for alternative market offerings, notably the Grayscale Bitcoin Trust (GBTC), which continues to trade at a discount of around 2% to its net asset value, or NAV.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/1ec40fb5-b5d2-461b-a32c-7d884c5744ef.png\"><figcaption style=\"text-align: center;\"><em>GBTC premium chart. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>Last week, the Trust\u2019s shares traded at a record discount of 13%, with new entrants currently not permitted to buy as part of Grayscale\u2019s periodic closure schedule. Analysts noted that if historical behavior repeats itself, the negative premium may foretell the next phase of the Bitcoin price bull run.<\/p>\n<p>GBTC buyers are required to pay a 2% management fee, higher than the newcomer ETFs.<\/p>\n<p>\u201cI believe our ETF stands out based on its highly competitive price point and CI and Galaxy\u2019s extensive capabilities and track record in managing alternative investments and digital assets,\u201d Kurt MacAlpine, CEO of CI Financial, which will run the ETF, added about market fit.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/galaxy-digital-bitcoin-etf-to-launch-this-week-as-exec-eyes-compelling-opportunities\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Galaxy Digital Bitcoin ETF to launch this week as exec eyes &#8216;compelling opportunities&#8217; &#8221; Bitcoin (BTC) exchange-traded funds (ETFs) continue to multiply as a new entrant hits the Canadian market on March 9. In a press release on Monday, Galaxy Digital Capital Management, a subsidiary of financial services and investment management company Galaxy Digital,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":196786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZmJjNmY5ZGYtMjczMy00ODYxLWI0MGQtZDU2MzFhZWViZmNjLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,75849,73785],"class_list":["post-196785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-etf","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/196785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=196785"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/196785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/196786"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=196785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=196785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=196785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}