Cryptocurrency firms from the USA have submitted two registration applications to the Securities and Exchange Commission, requesting permission to sell exchange-traded funds (ETFs) in connection with Bitcoin (BTC) and Decentralized Finance (DeFi).

Atlanta-based investment firm Invesco has joined forces with New York-based Galaxy Digital Funds to register and register the Invesco Galaxy Bitcoin ETF, a physically secured private key fund. The Illinois-based Amplify ETF has submitted a new application to add DeFi-focused ETFs offering the Amplify ETF Trust.

If approved by the SEC, the Invesco Galaxy Bitcoin ETF will be listed as a stock offering with the option of listing on traditional national exchanges in the United States. According to the statement, the trust will use “strong physical barriers to entry, electronic monitoring, and continuous patrols” to protect Bitcoin’s private keys.

On the other hand, the SEC’s approval of the FORM N-1A Amplify ETF will allow the company to issue an unlimited number of new shares to US investors. However, this is the second time that Galaxy has offered an archive of Bitcoin ETF since April 12, and it is expected to be approved in October.

Invesco and the Amplify ETF have not yet responded to Cointelegraph’s request for comment.

RELATED: SEC Chairman Doubles Down, Says Crypto Firms ‘Come and Talk to Us’

The Chairman of the Securities and Exchange Commission, Gary Gensler, is applying for the registration of crypto companies with the authorities. In a statement issued on September 14, Gensler asked crypto firms to “come and speak to us,” referring to the potential for legal status on a case-by-case basis.

In August, Gensler shared similar sentiments and pushed for a robust crypto-regulatory system to better protect investors in “the financing, issuance, trading, or lending of cryptocurrency.” Recently, he demanded clarification of the stable coin ecosystem. “A poker chip is a pile of coins on the casino tables,” he said.

Source: CoinTelegraph

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