Anthony Scaramucci’s Skybridge Capital has filed an S-1 registration form with the Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF). The prospectus for the “First Trust Skybridge Bitcoin ETF Trust” notes that the ETF aims to list common shares on NYSE Arca.
Skybridge Capital Files to List a Bitcoin ETF
Skybridge Capital and its founder Anthony Scaramucci have been all about bitcoin (BTC) these days and even more so after the company’s successful launch of the Skybridge Capital Bitcoin Fund. At the end of February, Scaramucci said in an interview that he expects $100k BTC prices this year. On March 19, 2021, Skybridge Capital filed an S-1 registration prospectus for a bitcoin exchange-traded fund (ETF). Skybridge Capital will be among a number of firms such as Vaneck and Valkyrie Digital Assets looking to get their ETFs approved.
The S-1 registration filed on Friday notes that the ETF will be dubbed the “First Trust Skybridge Bitcoin ETF Trust” but the ticker it will leverage has been left blank. Skybridge is hoping to list common shares on NYSE Arca but notes that the trust is “newly organized.” Because there is no prior history, common shares of the Skybridge bitcoin trust may trade a discount from their net asset value (“NAV”). The former White House communications director Scaramucci’s company also says that the trust is an “emerging growth company.”
“The trust is an ‘emerging growth company,’” the Skybridge Capital registration filing says. “As that term is used in the Jumpstart Our Business Startups Act (the “JOBS Act”) and, as such, may elect to comply with certain reduced reporting requirements,” the ETF filing adds. The registration explains the risks involved with the “Skybridge Bitcoin ETF Trust” which is the typical standard statements like: “Bitcoin is a new technological innovation with a limited history.”
“There is no assurance…