SEC Rejects Bitcoin ETF Plan From Anthony Scaramucci’s Skybridge Capital

Anthony Scaramucci, founder of SkyBridge Capital II LLC, speaks during the International Economic Forum of the Americas (IEFA) Toronto Global Forum in Toronto, Ontario, Canada, on Friday, Sept. 6, 2019. The Toronto Global Forum is a non-profit organization fostering dialogue on national and global issues that brings together heads of states, central bank governors, ministers and global economic decision makers. , Bloomberg

Allyson Versprille, Bloomberg News

Jan 20, 2022

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(Bloomberg) --

The U.S. Securities and Exchange Commission rejected Intercontinental Exchange’s NYSE Arca proposal for a Bitcoin exchange-traded fund from Anthony Scaramucci’s Skybridge Capital. 

The First Trust SkyBridge Bitcoin ETF Trust proposal fell short of standards to prevent fraudulent and manipulative practices and to protect investors, the agency said in a filing Thursday. The regulator used similar arguments to deny proposals from Valkyrie Investments and Kryptoin in December. 

The SEC has yet to approve a spot-Bitcoin ETF, though it gave the green light for futures-backed Bitcoin ETFs in October. 

A decision on a proposal from Fidelity is expected by Jan. 27. 

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