First Trust and Scaramucci’s SkyBridge File for Bitcoin ETF

First Trust and Scaramucci's SkyBridge File for Bitcoin ETF



The race for the first Bitcoin ETF in the U.S. is heating up: a filing with the Securities and Exchange Commission (SEC) on Friday revealed that Anthony Scaramucci’s SkyBridge Capital and investment firm First Trust Advisors are the latest industry players to file for an ETF in the country.

Multiple attempts to get the green light for a Bitcoin ETF have failed in recent years, but as Bitcoin has seen accelerated institutional adoption throughout 2020, various industry players are now hoping to launch the first U.S. Bitcoin ETF at last.

SkyBridge and First Trust’s ETF filing follows those from VanEck, NYDIG, WisdomTree, Grayscale, and Valkyrie. 

While a Bitcoin ETF is yet to be approved in the U.S., the first ETF in Canada was launched last month by asset management firm Purpose Investments. On its one-month anniversary, the firm announced that the ETF had cracked the $1 billion mark in Canadian dollars; currently, it counts over 14,000 bitcoin, approximately $820 million at press time, in assets under management.

With precedent from abroad and a growing number of applications, many anticipate that the U.S. may see its first Bitcoin ETF within the year.

Thomas is a independent journalist. He enjoys writing about Bitcoin, learning about Bitcoin, and hodling bitcoin.

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