Skybridge Under Auspices of Its Founder Files For Launching Bitcoin-based ETF Fund
A Form called S-1 has been received in the filing branch of US’s Securities & Exchange Commission (SEC) asking permission to allow the filer to launch a Bitcoin-based ETF fund. The filer has been told to be Skybridge Capital, one of the biggest asset management firm, under the auspices of its founder, Anthony Scaramucci.
Nowadays both, Anthony Scaramucci, founder of Skybridge Capital as well as the company itself are deeply involved in Bitcoin. Especially after when the company successfully launched its first-ever Bitcoin Fund called.
It was reported by SEC that it has received a form called S-1 which has been filed by Skybridge Capital. Through the form filing Skybridge Capital has showed its intention of launching a Bitcoin fund called “First Trust Skybridge Bitcoin ETF Trust”. The paper for seeking approval of SEC was received by SEC on the last working day of past week i.e. 19th March, 2021. Now the Skybridge Capital’s proposed Bitcoin fund is very much alive and accessible to investors.
It has been told that the person behind company’s initiative was Scaramucci himself who is also the founder of Skybridge Capital.
At the end of February this year, Scaramucci had predicted that the value of Bitcoin will soon cross US$ 100 K. Now the company has filed for engaging in Bitcoin asset management services.
Before Skybridge Capital there were other notable companies too such as Valkyrie Digital and Vaneck who got approvals from SEC. It is also not clear whether there is some policy change in SEC because normally it does not happen that quickly. It is widely known that the relationship between SEC and crypto oriented business is rather bitter than sweet.
SEC has also confirmed that it has allowed Skybridge to launch the proposed Bitcoin-based ETF. However, as regards the ticker for the fund, the company did not make mention of any ticker. The column requiring ticker has been left black deliberately, told SEC.
Later on the company told that it will soon be presenting its shares for enlistment at NYSE Arca. Yet for the time being it is unlikely that the shares will be traded at a higher price. In fact, they will most likely be made available on discounted rates as the project is entirely new and has no trade history. The company also claimed that the proposed trust will serve in the best interests of the investors. In addition, its integration will subsequently benefit the company as well as its customers too, said Scaramucci.
Later on, Scaramucci was found actively engaged with his followers at Twitter where he was debating and discussing Bitcoin. He can also been seen as urging as many individuals and companies to invest further monies into Bitcoin. He referred to his Bitcoin prediction and said that his mind tells him of higher value of Bitcoin than what he had predicted.
