SEC Rejects First Trust SkyBridge's Spot Bitcoin ETF Proposal

TokenInsight news, The U.S. Securities and Exchange Commission (SEC) has rejected the proposal to list a spot bitcoin exchange-traded fund (ETF) by investment advisory firm First Trust and hedge fund SkyBridge Capital. First Trust and SkyBridge first filed an application for a bitcoin ETF with the SEC in March last year under the full name "The First Trust SkyBridge Bitcoin ETF Trust," but the SEC extended its review of the ETF in July and November.