SEC Rejects First Trust SkyBridge's Spot Bitcoin ETF Proposal

Posted on by American Coins & Gold

SEC Rejects First Trust SkyBridge's Spot Bitcoin ETF Proposal
The U.S. Securities and Exchange Commission (SEC) has rejected the proposal to list a spot bitcoin exchange-traded fund (ETF) by investment advisory firm First Trust and hedge fund SkyBridge Capital.The SEC’s decision comes around four weeks after it rejected investment firm Kryptoin’s proposal to list a spot bitcoin ETF. The commission had previously rejected spot bitcoin ETF proposals from VanEck and WisdomTree.Following First Trust and SkyBridge’s initial application to list an ETF on the New York Stock Exchange in March last year, the SEC extended the deadline for its decision first in July, and then in November.The eventual rejection filed…