SEC Delays Decision on SkyBridge Capital's Proposed Bitcoin ETF to August

The U.S. Securities and Exchange Commission (SEC) has extended its review of SkyBridge Capital's application for a bitcoin exchange-traded fund, a filing by the U.S. regulatory agency shows.

• Anthony Scarammuci's SkyBridge Capital submitted an application on May 6 to list and trade shares of the First Trust SkyBridge Bitcoin ETF Trust.
• The SEC has extended its initial 45-day review period to Aug. 25.
• The agency has received public comment on the application.
• U.S. regulators have been extremely reticent to approve such investment vehicles, which would provide retail investors with access to the bitcoin market without having to own bitcoin itself. ETFs are a staple of many retirement portfolios.

Read more: SEC Staff Calls Bitcoin ‘Highly Speculative,’ Hints at ETF Skepticism