{"id":15326,"date":"2024-03-13T07:12:09","date_gmt":"2024-03-13T07:12:09","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15326"},"modified":"2024-03-13T07:56:51","modified_gmt":"2024-03-13T07:56:51","slug":"sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application\/","title":{"rendered":"SEC Orders First Trust-SkyBridge to Abandon Bitcoin ETF Application"},"content":{"rendered":"<p>The Securities and Exchange Commission (<a href=\"https:\/\/coinengineer.net\/blog\/grayscale-seeks-sec-approval-for-low-fee-bitcoin-mini-trust-spinoff-from-gbtc\/\">SEC<\/a>) has instructed First Trust-SkyBridge to declare their Bitcoin ETF application as abandoned. First Trust was among the earliest to apply for a BTC ETF but faced rejection by the SEC in January 2022.<\/p>\n<p>Initially filed in March 2021, the application by First Trust and SkyBridge for a <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-miners-strike-gold-revenue-hits-all-time-high-as-price-soars\/\">Bitcoin<\/a> ETF was unsuccessful, and the firms opted not to reapply for the ETF.<\/p>\n<p>First Trust Advisors and SkyBridge Capital, led by Anthony Scaramucci, the former White House Communications Director and digital assets investor during the Trump era, have been directed by the SEC to classify their Bitcoin ETF application as abandoned. According to the SEC&#8217;s notice published on Wednesday, the registration statement must be abandoned as the First Trust SkyBridge Bitcoin ETF failed to respond to previous communications from the Commission.<\/p>\n<p>While First Trust and SkyBridge originally submitted their Bitcoin ETF application in March 2021, along with several others, it was rejected in January 2022. Despite the approval of BlackRock&#8217;s Bitcoin ETF application by the SEC, which followed revisions, the two firms chose not to reapply.<\/p>\n<p>Eric Balchunas, an ETF analyst at Bloomberg, expressed uncertainty about why First Trust and SkyBridge did not submit a new application following the success of BlackRock&#8217;s application.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission (SEC) has instructed First Trust-SkyBridge to declare their Bitcoin ETF application as abandoned. First Trust was among the earliest to apply for a BTC ETF but faced rejection by the SEC in January 2022. Initially filed in March 2021, the application by First Trust and SkyBridge for a Bitcoin ETF<\/p>\n","protected":false},"author":6,"featured_media":15101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,39],"class_list":["post-15326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Orders First Trust-SkyBridge to Abandon Bitcoin ETF Application - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission (SEC) has instructed First Trust-SkyBridge to declare their Bitcoin ETF application as abandoned.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Orders First Trust-SkyBridge to Abandon Bitcoin ETF Application - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The Securities and Exchange Commission (SEC) has instructed First Trust-SkyBridge to declare their Bitcoin ETF application as abandoned.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-13T07:12:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-13T07:56:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/03\/Bitcoin-3.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"745\" \/>\n\t<meta property=\"og:image:height\" content=\"391\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/sec-orders-first-trust-skybridge-to-abandon-bitcoin-etf-application\/\",\"name\":\"SEC Orders First Trust-SkyBridge to Abandon Bitcoin ETF Application - 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