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SkyBridge Capital latest to file Bitcoin ETF application with US SEC

SkyBridge Capital has filed for a Bitcoin ETF in partnership with First Trust Advisors.
New York-based investment firm SkyBridge Capital has filed for a Bitcoin (BTC) exchange-traded fund, or ETF, with the United States Securities and Exchange Commission.SkyBridge submitted the filing on March 19 in partnership with investment advisor First Trust Advisors. First Trust will act as the fund’s advisor and Skybridge serving as sub-advisor.The documents state the First Trust SkyBridge Bitcoin ETF will seek to list its shares on the New York Stock Exchange Arca. A ticker symbol is yet to be announced for the fund. The filing emphasizes the trust will offer a regulated way for investors to gain exposure to Bitcoin without needing to custody the digital asset, and allow investors to execute trades through their brokers.The First Trust SkyBridge ETF Trust is now one of several applications for a Bitcoin ETF that is currently awaiting a verdict from the SEC.On March 11, New York-based asset manager WisdomTree submitted its latest application for a Bitcoin ETF, following an attempt to get a fund approved that would hold up to 5% of its portfolio in Bitcoin futures despite being focused on energy and metals in mid-2020.Leading U.S. investment bank Morgan Stanley filed for a Bitcoin ETF in partnership with crypto-focused financial services firm NYDIG on Feb. 16. The proposed fund would be exclusively available to investors who hold at least $2 million in assets with the firm.In January, the SEC also received separate applications for Bitcoin …
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