SkyBridge Capital and First Advisors have filed a joint application with the SEC to launch an Exchange Traded Fund (ETF) for Bitcoin.
Currently, the US Securities and Exchange Commission (SEC) has five applications for the launch of Bitcoin ETFs – before that, similar documents were submitted by NYDIG, WisdomTree, Valkyrie Digital Assets, and VanEck. First Advisors is listed as the main ETF advisor for Bitcoin, and SkyBridge Capital acts as an additional advisor.
“The investment objective of the trust is for the shares to reflect the value of the bitcoins, excluding the obligations and expenses of the trust itself,” the application says.
Companies planning to launch Bitcoin ETFs in the US have stepped up after the Canadian regulator began approving similar products for listing on the Toronto Stock Exchange. The first Bitcoin ETF was approved in Canada in February this year, and the Ontario Securities Commission later approved several more such applications.
Late last week, the Brazilian Securities and Exchange Commission approved the launch of the first Bitcoin ETF in Latin America.
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