Anthony Scaramucciâ€™s Skybridge Capital has filed an S-1 registration form with the Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF). The prospectus for the â€œFirst Trust Skybridge Bitcoin ETF Trustâ€ notes that the ETF aims to list common shares on NYSE Arca.
Skybridge Capital Files to List a Bitcoin ETF
Skybridge Capital and its founder Anthony Scaramucci have been all about bitcoin (BTC) these days and even more so after the companyâ€™s successful launch of the Skybridge Capital Bitcoin Fund. At the end of February, Scaramucci said in an interview that he expects $100k BTC prices this year. On March 19, 2021, Skybridge Capital filed an S-1 registration prospectus for a bitcoin exchange-traded fund (ETF). Skybridge Capital will be among a number of firms such as Vaneck and Valkyrie Digital Assets looking to get their ETFs approved.
The S-1 registration filed on Friday notes that the ETF will be dubbed the â€œFirst Trust Skybridge Bitcoin ETF Trustâ€ but the ticker it will leverage has been left blank. Skybridge is hoping to list common shares on NYSE Arca but notes that the trust is â€œnewly organized.â€ Because there is no prior history, common shares of the Skybridge bitcoin trust may trade a discount from their net asset value (â€œNAVâ€). The former White House communications director Scaramucciâ€™s company also says that the trust is an â€œemerging growth company.â€
â€œThe trust is an â€˜emerging growth company,â€™â€ the Skybridge Capital registration filing says. â€œAs that term is used in the Jumpstart Our Business Startups Act (the â€œJOBS Actâ€) and, as such, may elect to comply with certain reduced reporting requirements,â€ the ETF filing adds. The registration explains the risks involved with the â€œSkybridge Bitcoin ETF Trustâ€ which is the typical standard statements like: â€œBitcoin is a new technological innovation with a limited history.â€
â€œThere is no assurance that usage of bitcoin will continue to grow,â€ the ETF filing from Skybridge Capital notes. â€œA contraction in use of bitcoin may result in increased volatility or a reduction in the price of bitcoin, which could adversely impact the value of the common shares.â€
Scaramucciâ€™s Spacex Tweet
In addition to the filing, Anthony Scaramucci has been discussing bitcoin an awful lot on Twitter and speculated that Elon Muskâ€™s firm Spacex has bitcoin (BTC) on its balance sheet. The speculative tweet from Scaramucci also was focused on the subject of climate change and renewable energy. â€œElon Musk didnâ€™t stop with Tesla,â€ Scaramucci insisted in a tweet. â€œI understand that Spacex owns bitcoin on its balance sheet. Elon Musk owns over $5 billion in bitcoin via Tesla, SpaceX, and personally. No living person has done more to protect the planet against climate change,â€ the Skybridge Capital founder added.
Scaramucci also did an interview on March 19, and explained that more businesses should hold bitcoin treasuries. Skybridge Capital manages $600 million in bitcoin and Scaramucci discussed the possibility of Skybridge ethereum investment products as well. The Skybridge founder further touched on his $100k BTC price prediction and said â€œIâ€™m sticking with $100,000 because if I tell people what I really thinkâ€¦ theyâ€™re gonna think that Iâ€™m nuts.â€
What do you think about Scaramucciâ€™s Skybridge Capital filing to list an ETF on NYSE Arca in a SEC registration prospectus? Let us know what you think about this subject in the comments section below.
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