New Exchange-Traded Product SolidX Bitcoin Trust to Launch on NYSE Arca

Blockchain technology company SolidX Partners has announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) for the proposed launch of the SolidX Bitcoin Trust, a new Exchange-Traded Fund (ETF) for traditional investors.
According to the company’s website, SolidX Partners provides blockchain-based software solutions relating to the indelible recording of digital records, transfer of assets, and identity. ‘SolidX also has a capital markets arm that has filed a FORM S-1 registration statement for a proposed launch of a bitcoin exchange traded fund,’ reads a recently added paragraph.
The SolidX press release reveals that the ETF will list on NYSE Arca, the New York Stock Exchange (NYSE) market specialized in Exchange-Traded Products (ETPs), under the ticker symbol XBTC. The Trust, not actively managed, will provide shareholders with exposure to the daily change in the U. S. dollar price of Bitcoin, before expenses and liabilities of the Trust, as measured by the TradeBlock XBX Index.

This post was published at Bitcoin Magazine on Jul 14, 2016.