SolidX Partners Inc., a New York based blockchain technology company, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed launch of the SolidX Bitcoin Trust.
The ETF will seek to 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.
The Trust’s assets will consist of bitcoin, an asset that can be transferred among parties via the Internet, but without the use of a central administrator or clearing agency. The Trust will occasionally hold cash for short periods in connection with the purchase and sale of bitcoin, and to pay Trust expenses.
The Trust will not be actively managed, and will list on the New York Stock Exchange under the ticker symbol “XBTC.” The Shares will trade on NYSE Arca and provide shareholders with indirect exposure to the price of bitcoin.
An electronic version of the registration statement can be accessed here.