US SEC Starts Bitcoin ETF Examination, Fidelity and Sky Bridge Application

US SEC Starts Bitcoin ETF Examination, Fidelity and Sky Bridge Application

The Securities and Exchange Commission (SEC) has begun reviewing Bitcoin exchange-traded fund (ETF) application documents submitted by two US companies. There are now six Bitcoin ETF applications that the SEC has officially started the review process.

According to the disclosure documents, the new SEC review process includes the Bitcoin ETF applied by SkyBridge Capital, led by Anthony Scaramucci, and Fidelity Investments’ Wise Origin Bitcoin Trust. “.

If approved, Skybridge plans to list on the New York Stock Exchange, while Wise Origin will list on the Chicago Board Options Exchange (Cboe) BZX Exchange.

In the United States, several companies have planned and listed Bitcoin ETFs and applied to the SEC, but none have been approved. If Bitcoin ETFs are listed in the United States, the world’s largest financial market, individual investors will be able to enter the crypto asset market without having to own Bitcoin in kind.

The SEC may make a provisional decision to approve or reject the application or extend the review body by up to 240 days within 45 days from the start date of the review.

In addition to Skybridge and Wise Origin, applications submitted by VanEck, Kryptoin, WisdomTree, and Valkyrie are currently in the SEC’s review process.

In North America, Canada has already approved multiple Bitcoin and Ethereum ETFs.

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