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SEC delays decision on SkyBridge Capital’s proposed Bitcoin ETF to August 25

The Securities and Exchange Commission has extended the initial 45-day review period to Aug. 25 of SkyBridge Capital’s application for a bitcoin ETF, a filing by the U.S. regulatory agency shows.

Source: SEC

SkyBridge Capital submitted an application on May 6 to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust.

“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received. Accordingly, pursuant to Section 19(b)(2) of the Act, 6 the Commission designates August 25, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change,” said the notice by SEC.

Last month, SEC delayed WisdomTree Bitcoin Trust, Kryptoin ETF and Cboe BZX.

Bitcoiners have long been frustrated with the agency’s reluctance to sign a bitcoin ETF, a product that could catapult Bitcoin into the mainstream among institutional investors.

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