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SEC Declares ETF Abandoned, Signaling a Significant Development in Cryptocurrency ETFs

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ETF,United States Securities And Exchange Commission,SEC

The United States Securities and Exchange Commission (SEC) has declared an ETF abandoned, marking a significant development in cryptocurrency ETFs. The SEC's decision adds intrigue to the evolving landscape of cryptocurrency investment vehicles. First Trust SkyBridge Bitcoin ETF Trust also faces setbacks following a previous rejection by the SEC.

ETF has taken a surprising turn as the United States Securities and Exchange Commission (SEC) has declared it “abandoned.” The SEC’s decision revealed through a screenshot shared by senior Bloomberg ETF analyst Eric Balchunas on 12 March marks a significant development in the realm of cryptocurrency ETFs.“In view of the foregoing, it is ORDERED that the registration statement be declared abandoned on March 12, 2024.

” This unexpected twist added a new layer of intrigue to the evolving landscape of cryptocurrency investment vehicles.However, before the recent announcement, the SEC notified First Trust SkyBridge that their registration statement would be considered abandoned without action.“First Trust SkyBridge Bitcoin ETF Trust has failed to respond to notice under Rule 479 that the registration statement would be declared abandoned unless it was timely amended or withdrawn.” This marks a significant setback for First Trust SkyBridge, following a previous rejection by the SEC in 2022. Their initial interest in listing an ETF on the NYSE in March 2021 was also unsuccessfu

 

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