Filings with the US SEC confirm that the US regulatory agency is finally beginning the review of new bitcoin ETF applications.
The two names that at last got the attention of the US SEC are SkyBrdige Capital (Anthony Scaramucci) and Wise Origin Bitcoin Trust (Fidelity Investments). The SkyBridge offering would trade on the New York Stock Exchange while Wise Origin’s would trade on Cboe’s BZX Exchange.
These two bitcoin ETF applications now join four others that are currently under the reviewing process while 10 more are still waiting to enter that stage.
The SEC will have to come up with an initial decision for these applications within 45 days – of course, unless it decides that it needs to extend the window, which could extend the period for another 240 days.
The other bitcoin ETFs that are currently under official review are Kryptoin, Valkyrie, VanEck, and WisdomTree.
US regulators haven’t been too keen on approving ETFs, despite the fact that they have the opportunity of offering retail investors access to the bitcoin market without needing to actually buy bitcoin. Meanwhile, Canada has approved several bitcoin ETFs for the Ethereum blockchain.