First Trust Credit Union and SkyBridge Capital, had applied for a Bitcoin ETF in March 2021 but abandoned their applications, as per SEC’s orders.
The US Securities and Exchange Commission (SEC) has ordered First Trust Credit Union and SkyBridge Capital to declare their applications abandoned. Both firms applied for the ETF in March 2021 and faced rejection in January 2022.
First Trust Credit Union and SkyBridge Didn’t Refile for Bitcoin ETF
First Trust and SkyBridg, the two financial firms that took part in the Bitcoin ETF faced a rejection from the SEC in January 2022. Interestingly, both firms haven’t re-applied for approval even after several revisions to their applications. Consequently, the Commission on March 12 offered a regulatory notice to both companies to mark their Bitcoin ETF applications as dumped.
The applications had spent over nine months on the SEC’s table and were yet to become effective. If no actions were taken for withdrawal or amend the
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