NEW YORK, Jan 20 (Reuters) - The U.S. Securities and
Exchange Commission on Thursday rejected a filing to list and
trade a spot bitcoin exchange-traded fund by First Trust
Advisors and SkyBridge, the hedge fund founded by former White
House communications director Anthony Scaramucci.
The SEC's rejection of the First Trust SkyBridge Bitcoin ETF
Trust was the latest in a succession of vetoes by the regulator
around the listing of spot bitcoin ETFs, which seek to provide
easy exposure to the digital currency.
The SEC in October approved two bitcoin futures-based funds,
the ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin
Strategy ETF, raising hopes that a spot bitcoin ETF would soon
be approved as well. But in November and December the regulator
turned down three spot bitcoin ETF proposals.
The proposal to list the First Trust SkyBridge bitcoin ETF
was filed in March by Intercontinental Exchange Inc's
The filing did not meet "the requirement that the rules of a
national securities exchange be 'designed to prevent fraudulent
and manipulative acts and practices' and 'to protect investors
and the public interest,'" the SEC said.
(Reporting by John McCrank; editing by Jonathan Oatis)