Global X Withdraws Spot Bitcoin ETF Application

Global X Withdraws Application for U.S. Bitcoin ETF

Global X, an exchange-traded fund provider, has withdrawn its application for a U.S. spot Bitcoin ETF. This move comes after the U.S. Securities and Exchange Commission (SEC) approved 11 Bitcoin ETF applications earlier this month. Global X becomes the first firm to abandon its plans following this landmark decision. While the withdrawal was not surprising, as it was anticipated since early December, it is a significant development in the world of cryptocurrency investment.