Share this article
SolidX Seeking to List Bitcoin ETF on New York Stock Exchange
Blockchain firm SolidX has filed with the SEC in a bid to launch a public investment vehicle that would offer exposure to bitcoin.
By Pete Rizzo
Updated Sep 11, 2021, 12:22 p.m. Published Jul 12, 2016, 12:46 p.m.
A second firm has filed with the US Securities and Exchange Commission (SEC) in a bid to launch an exchange-traded fund (ETF) that would offer exposure to bitcoin.
Blockchain technology firm SolidX announced today it has filed a registration statement with the SEC to launch the SolidX Bitcoin Trust. According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash holdings.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Shares in the trust will be issued in blocks of 10,000 shares to authorized participants, described in the filing as registered broker-dealers who would create and redeem the blocks in baskets, for the delivery of cash (or bitcoins). Bitcoins in the trust, the filing said, would either be sourced on bitcoin exchanges or in over-the-counter (OTC) transactions.
According to the company, the trust will be managed on the NYSE under the ticker symbol "XBTC". Prices will be quoted using the TradeBlock XBX Index.
As noted by industry advocacy group Coin Center, a notable difference between the SolidX Bitcoin Trust and the competing Winklevoss Bitcoin Trust is that the former has secured insurance that would cover the loss or theft of bitcoins in the trust.
"The Trust maintains three separate levels of insurance coverage to cover the loss of bitcoin held by the Trust: crime, excess crime and excess vault," the filing reads.
In its most recent 29th June filing with the SEC, Winklevoss Bitcoin Trust sponsor Digital Asset Services, LLC indicated it will not insure bitcoins it holds in conjunction with the investment vehicle.
Founded in 2014, SolidX raised $3m from investors including Liberty City Ventures, Red Sea Ventures and Red Swan Ventures with the goal of offering 'total return swaps' to large institutional bitcoin investors.
As such, in the filing, SolidX stated it believes its latest offering is better suited for institutional investors than direct bitcoin purchases:
"The sponsor believes that shareholders will be able to more effectively implement strategic and tactical asset allocation strategies that use bitcoin by investing in the shares than by purchasing, holding and trading bitcoin directly."
SolidX declined to offer additional comment.
Investor image via Shutterstock
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin nears breakout from the $85,000-$90,000 range as options expiry looms
A year-end options expiry for bitcoin is suppressing volatility just as macro and risk-asset positioning turns supportive for a higher price.
What to know:
- Bitcoin has spent the majority of December pinned between $85,000 and $90,000.
- That range has been enforced by dealer hedging tied to heavy options exposure, with dips bought near $85,000 and rallies sold near $90,000.
- Some $27 billion of open interest are set to expire on Deribit with a strong call bias, and options mechanics point to a resolution toward the higher end as the more likely outcome.
Top Stories
