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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.