Scaramucci's SkyBridge Capital Files for Bitcoin ETF

Bitwise, whose Bitcoin ETF was also rejected by the SEC, has filed an application with the SEC to launch a Crypto Innovators ETF that would invest primarily in companies whose revenues are derived primarily from the crypto sector.

Will More Bitcoin ETF Applications Move the SEC?

Cryptocurrency enthusiasts are hoping that the proliferation of Bitcoin ETFs before the SEC, together with a new SEC chairman very familiar with blockchain, and the debut of three Bitcoin ETFs in Canada will move the agency to finally approve one or more Bitcoin ETF applications, but there is no indication yet that will be the case.

Gary Gensler, whom President Joe Biden has nominated to be the next SEC chairman but has yet to be confirmed, is the former chairman of the Commodity Futures Trading Commission and is a professor at MIT, where he taught a course on blockchain and Bitcoin.

Meanwhile the SEC recently published a notice acknowledging the filing of the Cboe BZX Exchange's proposed rule change that would enable it to list the VanEck Bitcoin ETF, which is pending before the agency. The SEC notice says a decision will be forthcoming within 45 or 90 days of publication of the notice in the Federal Register. Approval of the exchange's application as well as the ETF's application is required before the ETF could trade. In Canada three Bitcoin ETFs have launched this year.

Pictured: SkyBridge Capital founder Anthony Scaramucci. (Photo: Cole Burston/Bloomberg)