Bitcoin ETF

Bitcoin

After several months of lying fallow, First Trust SkyBridge Bitcoin ETF has been declared “abandoned” by the United States Securities and Exchange Commission (SEC). 
<h2 id="strong-abandoned-etf-application-strong">Abandoned ETF Application</h2> 
According to the screenshot shared by senior Bloomberg ETF analyst Eric Balchunas, on March 12, 2024, the U.S. SEC officially ordered that the registration statement for spot Bitcoin ETF of the duo First Trust and SkyBridge be declared as abandoned. The regulator confirmed that First Trust and SkyBridge had jointly filed a registration statement to register securities under Section 6(a) of the Securities Act of 1933. 
Before the recent announcement from the U.S. regulator, the application had spent up to nine months on the SEC’s desk and was yet to become effective. First Trust SkyBridge was sent a notification informing them that the registration statement would be declared abandoned if no action is taken to either withdraw or amend the filing. Unfortunately, no response was received in this regard. 
The lack of response or action from the asset managers prompted the decision of the SEC. It is worth noting that this is not the first time the duo would be applying to list spot Bitcoin ETF. In 2022, the SEC <a href="https://coingape.com/breaking-sec-rejects-bitcoin-etf-proposal-from-skybridge-capital/">rejected the application</a> as it did with others at the time.&nbsp; 
The rejection followed an initial interest to list an ETF on the New York Stock Exchange in March 2021.&nbsp; 
<h2 id="strong-spot-bitcoin-etf-breaking-major-milestones-strong">Spot Bitcoin ETF Breaking Major Milestones</h2> 
Notably, the reasons for the lack of interest to continue the First Trust SkyBridge Bitcoin ETF application is not yet clear.&nbsp; 
Had the application joined the approved offerings in January, it might have benefitted from the outstanding results registered by a number of the spot Bitcoin ETF issuers including BlackRock that has kept drawing attention to the nascent ecosystem.&nbsp; 
As reported earlier, there was a robust total weekly net inflow of spot Bitcoin ETFs which stood at $2.23 billion. 
BlackRock’s IBIT added Fidelity’s FBTC <a href="https://coingape.com/blackrock-fidelity-records-700-mln-inflow-bitcoin-price-rally/">registered about $700 million in inflows</a> on March 12. On its own, BlackRock’s IBIT surpassed MicroStrategy’s Bitcoin holdings with a <a href="https://coingape.com/bitcoin-news-blackrock-btc-holdings-surpasses-microstrategy-amid-2-bln-net-inflows-this-week/">net inflow of $2.07 billion</a> in the week. Of all the ten spot Bitcoin ETFs, BlackRock has remained the leader with huge influx in its flows and trading volume. 
Ultimately, the attention that spot Bitcoin ETFs are receiving has translated to a rally in the price of Bitcoin as the cryptocurrency hit a new <a href="https://coingape.com/markets/bitcoin-price-forecast-major-pre-halving-sell-off-brewing-as-btc-hits-72000/">all-time-high</a> (ATH) above $72,000. 
The post <a href="https://coingape.com/bitcoin-etf-sec-declares-first-trusts-application-abandoned/">Bitcoin ETF: SEC Declares First Trust’s Application “Abandoned”</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin ETF: SEC Declares First Trust’s Application “Abandoned”

목차

Coingape News Media

2024년 3월 12일에 게재된 다른 기사

Zeebu Soars to $1 Billion Milestone in Q1, Leading the Charge in Web3 Payments

Toncoin Price Jumps Big! Will TON Price Maintain Its Momentum?

Gnosis Chain Launches Update for Enhanced dApp Scalability

Gate.io Proof of Reserves Exceed $6 Billion, Additional $800 Million Stored

GMT Coin News: GMT Bulls Are Raging High To Break Major Levels

Stage 5 Presale Sees Pushd (PUSHD) Presale Skyrocket In March As Gains In Binance Coin (BNB) & Et...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!