U.S. Markets open in 3 hrs 21 mins

SEC Starts Official Review of SkyBridge, Fidelity Bitcoin ETF Applications

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

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.

The pair of bitcoin ETF applications join four others under official review with roughly 10 more still pending.

Related: Fidelity Bitcoin Fund Attracts $102M in First 9 Months

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.

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.

Related Stories