Anthony Scaramucci-led SkyBridge Capital and consulting firm First Trust Advisors have applied to launch a Bitcoin exchange-traded fund (ETF).
According to the S-1 document on the SEC website, the new product is called First Trust SkyBridge Bitcoin ETF Trust. It is assumed that First Trust Advisors will act as an advisor to the fund, and SkyBridge Capital will act as its co-manager.
Bitcoin ETF shares will be listed on NYSE Arca.
The current head of SkyBridge Capital began his financial career at Goldman Sachs in 1989. In 1996, Scaramucci founded Oscar Capital Management. In 2003, he became the head of Lehman Brothers’ investment arm.
In 2005, the financier created SkyBridge Capital. In 2017, Anthony Scaramucci served as director of communications at the White House.
In addition to the filing from SkyBridge Capital and First Trust Advisors, the SEC is pending similar documents from VanEck , WisdomTree , NYDIG , Bitwise and Valkyrie Digital Assets . At the time of writing, the commission has rejected all requests, citing, among other things, the potential for price manipulation.
As a reminder, the asset management company Grayscale Investments has opened nine vacancies with a mention of the exchange-traded fund.