Bitcoin ETFs from Fidelity and Skybridge Capital are under review by the SEC
Bitcoinexchange-traded fund applications from Fidelityand SkyBridge Capitalare under review by the Securities and Exchange Commission.
SECis currently looking at four other applications to launch bitcoin exchange-traded funds.
- A decision on asset manager VanEck's application is expected in June.
The Securities and Exchange Commission is reviewing applications for bitcoin exchange-traded funds filed by Fidelity and SkyBridge Capital, the hedge fund founded by Anthony Scaramucci.
The SEC is examining a request from Fidelity Investments to launch the
The moves expand on the regulatory agency's review of other potential bitcoin ETFs. The US has yet to approve a cryptocurrency-based ETF. Money management firms are seeking to capture potential gains from exposure to bitcoin, which has been pulling in more interest and activity from institutional and retail investors and companies.
Scaramucci's SkyBridge is working with investment firm First Trust Advisors on the ETF project and in March filed for regulatory approval. If greenlighted, the ETF would trade on the New York Stock Exchange Arca, which specializes in exchange-traded listings.
Fidelity also in March submitted paperwork to launch a bitcoin ETF to track the digital currency's performance. If that wins SEC approval, shares of the Wise Origin Bitcoin Trust would trade on Cboe Global Markets.
Investors are waiting to hear from the SEC if it will grant clearance for bitcoin ETFs from Kryptoin, Valkyrie, WisdomTree, and VanEck. Applications for about 10 others ETFs are pending, according to CoinDesk.
The SEC in late April said it expected to release its ruling on VanEck's application on June 17. The agency said it was delaying the decision to take an "appropriate" amount of time for the review. A review period can be extended for up to 240 days.
Read more: A crypto expert shares the top tips to pick worthwhile NFTs in a landscape littered with scams - including how to avoid getting caught up in Reddit-fueled hype that can cost you millions of dollars.
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