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SEC Starts Scrutiny of Skybridge and Fidelity’s Bitcoin ETF Bids
The U.S. Securities and Exchange Commission (SEC) has kicked off its review of two more Bitcoin exchange-traded fund (ETF) applications, recent filings with the regulator show. The two ETFs, Anthony Scaramucci’s SkyBridge Capital and Fidelity Investments’ Wise Origin Bitcoin Trust, join four others already under review. A further 10 are estimated to be pending. The investment vehicles provide exposure to Bitcoin without the need for investors to buy or store the asset itself directly. ETFs are a popular feature of many investment portfolios. But the SEC has, to date, been wary of approving a crypto version that ... (full story)