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First Trust Advisors and SkyBridge Capital, the hedge fund run by former White House Communications Director and recent bitcoin convert Anthony Scaramucci, have become the latest firms to seek to offer a bitcoin exchange-traded fund (ETF).
- In an S-1 filing with U.S. Securities and Exchange Commission, the companies applied to be able to offer the "First Trust SkyBridge Bitcoin ETF Trust." First Advisor would be the advisor to the ETF while SkyBridge would serve as the sub-advisor.
- The two companies are just the latest to file for an ETF. This bull run’s regulatory rush has seen WisdomTree file for a bitcoin ETF in March, NYDIG in February, Valkyrie in January, and VanEck in December of last year..
- The flood of applications comes as the SEC is widely expected to approve the first bitcoin ETF this year.
