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SEC Starts Official Review of SkyBridge, Fidelity Bitcoin ETF Applications
The two bitcoin ETF bids join four others under official review with more still pending.
Filings with the Securities and Exchange Commission (SEC) show the U.S. regulatory agency is kick-starting its review of two more bitcoin exchange-traded fund (ETF) applications.
Recent filings naming Anthony Scaramucci’s SkyBridge Capital and Fidelity Investments’ Wise Origin Bitcoin Trust officially commence the SEC’s review of the two bitcoin ETF bids. SkyBridge’s offering would trade on the New York Stock Exchange; Wise Origin’s would trade on Cboe’s BZX Exchange.
STORY CONTINUES BELOW
The pair of bitcoin ETF applications join four others under official review with roughly 10 more still pending.
The SEC will render an initial decision on the respective applications within 45 days unless it extends the window, which it can do for a maximum of 240 days.
The other bitcoin ETFs under official review are from VanEck, Kryptoin, WisdomTree and Valkyrie.
Read more: SEC Staff Calls Bitcoin ‘Highly Speculative,’ Hints at ETF Skepticism
U.S. regulators have been extremely reticent to approve the investment vehicle, 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.
In North America, Canadian regulators have approved a slew of bitcoin ETFs as well as similar vehicles for ether, the native currency of the Ethereum blockchain.
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
