First Trust Advisors, Scaramucci-Led SkyBridge Team to File for Bitcoin ETF

The two firms are just the latest to file for an ETF, following in the footsteps of WisdomTree, Valkyrie, NYDIG and VanEck.

AccessTimeIconMar 19, 2021 at 10:15 p.m. UTC
Updated Sep 14, 2021 at 12:29 p.m. UTC

First Trust Advisors and SkyBridge Capital, the hedge fund run by former White House Communications Director and recent bitcoin convert Anthony Scaramucci, have become the latest firm seeking to offer a bitcoin exchange-traded fund (ETF).

  • In an S-1 filing with U.S. Securities and Exchange Commission (SEC) Friday, the firms applied to be able to offer the "First Trust SkyBridge Bitcoin ETF Trust." First Advisor would be the adviser to the ETF, and SkyBridge would serve as the sub-adviser. Shares would trade on NYSE Arca, the filing said.
  • The two firms are just the latest to file for an ETF. This bull run’s regulatory rush has seen WisdomTree file for a bitcoin ETF in March, NYDIG in February, Valkyrie in January and VanEck in December.
  • Grayscale appears to be gearing up for an ETF product of its own. The crypto asset manager might apply for a new one or convert its existing bitcoin Trust into an ETF. The digital asset investment firm is owned by CoinDesk parent company Digital Currency Group.
  • The flood of applications comes as the SEC is widely expected to approve the first bitcoin ETF this year.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
2
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
3
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
4
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown