The US Securities and Exchange Commission has destroyed another spot bitcoin trade exchanged asset proposition, this time from First Trust and SkyBridge Capital.
As recently detailed, First Advisors and the Anthony Scaramucci-drove SkyBridge Capital joined the fight in looking for endorsement for a spot bitcoin ETF in March 2021.
However just like the case with VanEck's bitcoin ETF dismissal in November, the SEC, in its most recent articulation, focused on misrepresentation and control avoidance hazards just as financial backer insurance.
Without a doubt, this position has been the topic so far across a progression of dismissals for the past harvest of spot bitcoin ETF proposition. As investigated in a 2021 wrap-up of the bitcoin ETF race, The Block's Aislinn Keely noticed that the discussion around such items expanded in past months. Too, the SEC permitted the passage of bitcoin prospects tied ETFs interestingly.
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