The introduction of the Bitcoin Spot Exchange-Traded Funds (ETFs) has been a pivotal development in the cryptocurrency market, but some ETF issuers have failed to respond to certain requirements, leading to the rejection of their application.
SkyBridge’s Bitcoin ETF Application Gets Abandoned
Amid the growing adoption of the Bitcoin spot ETFs, investment management firm SkyBridge Capital has been dealt a blow as its First Trust-SkyBridge’s BTC ETF Trust has been declared abandoned by the United States Securities and Exchange Commission (SEC).
Senior Bloomberg Intelligence ETF analyst and crypto advocate Eric Balchunas took to the social media platform X (formerly Twitter) to share the development with the cryptocurrency community.
Eric Balchunas disclosed that the First Trust SkyBridge Bitcoin ETF is being ordered by the SEC to declare their filing “abandoned.” According to the Bloomberg expert, he is uncertain of the reason behind the event, since First Trust was
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