SEC Delays Decision on SkyBridge Capital's Proposed Bitcoin ETF to August
The agency has extended its initial 45-day review period.
- Anthony Scarammuci's SkyBridge Capital submitted an application on May 6 to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust.
- The SEC has extended its initial 45-day review period to Aug. 25.
- The agency has received public comment on the application.
- U.S. regulators have been extremely reticent to approve such investment vehicles, which would provide retail investors with access to the bitcoin market without having to own bitcoin itself. ETFs are a staple of many retirement portfolios.
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.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.