The SEC has blocked Anthony Scaramucci's Bitcoin ETF
CNN
U.S. regulators have rejected former White House communications director Anthony Scaramucci's hedge fund's filing to list a bitcoin exchange-traded fund. It's the latest in a series of Securities and Exchange Commission rejections of spot bitcoin ETFs.
The proposal from First Trust Advisors and SkyBridge, the hedge fund founded by Scaramucci, would have been called the First Trust SkyBridge Bitcoin ETF and tracked the "spot," or current, price of bitcoin. It's the latest in a series of Securities and Exchange Commission rejections of spot bitcoin ETFs, which seek to provide easy exposure to the cryptocurrency.
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 Thursday in a filing.
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