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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.
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).
STORY CONTINUES BELOW
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- 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.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
