The US Securities and Exchange Commission has extended its review of SkyBridge Capital’s application for a Bitcoin ETF.
Last month, the SEC also delayed its review of a Bitcoin ETF application from Cboe Global Markets.
SkyBridge Capital, headed by former White House communications director Anthony Scarammuci, filed an application on May 6 to list and trade shares in the fund First Trust SkyBridge Bitcoin ETF Trust.
Source: SEK
The SEC has extended the initial 45-day review period to August 25.
US regulators have been extremely cautious in approving ETF investment vehicles that would allow traditional investors to participate in the bitcoin market without having to own or secure bitcoin. ETFs are an integral part of many retirement portfolios.
There are currently 13 Bitcoin ETF applications on the SEC’s desk pending approval, experts say, if any of them are approved it will be a catalyst for the Bitcoin market explosion.
Wei Xiaobao
According to AZCoin News
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