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- On March 19, 2021, Skybridge Capital registered with SEC with an S-1 registration prospectus for Bitcoin EFT launch
- Skybridge is planning to register common shares on NYSE Arca
- The registration highlights the risks attached to the Skybridge Bitcoin ETF Trust
Skybridge Capital and its creator Anthony Scaramucci are all about discussing and executing plans related to Bitcoin (BTC) these days. The inclination increased after the institution’s successful release of the Skybridge Capital Bitcoin Fund. At the end of February, Anthony stated in an interview that he believes that BTC prices will strike $100k this year.
Skybridge Capital’s filing with SEC
On March 19, 2021, Skybridge Capital registered with SEC with an S-1 registration prospectus. The purpose behind the fling is the much-anticipated launch of its bitcoin exchange-traded fund (ETF). Skybridge Capital now stands in line along with reputed firms like Vaneck waiting for approval of its ETF.
The S-1 filing registered on Friday suggests that the label for the ETF will be the “First Trust Skybridge Bitcoin ETF Trust”. However, the ticker it will hold will remain blank. Skybridge is planning to register common shares on NYSE Arca but observed that the trust is still very freshly organized. Since there exists no prior record, Skybridge bitcoin trust’s common shares are likely to receive a discount from their net asset value.
Details of the S-1 filing
The Skybridge Capital registration filing states that the trust represents an emerging development company. The registration highlights the risks attached to the Skybridge Bitcoin ETF Trust which is the conventional standard assertions such as that Bitcoin represents a developing technological innovation with a finite history.
The ETF filing from Skybridge Capital emphasizes that there is no guarantee that the usage of bitcoin will keep growing. It added that the decline in the use of bitcoin may lead to an increased level of volatility or a decrease in the value of bitcoin, which could unfavorably impact the prices of the common shares.
Besides, Anthony Scaramucci is quite active on Twitter with his frequent tweets discussing bitcoin. He recently theorized that Elon Musk’s firm SpaceX has updated its balance sheet with bitcoin (BTC). The speculative statement from Anthony’s Twitter account also highlighted the issue of climate change and the subject of renewable energy. Anthony reaffirmed in one of his tweets how Elon Musk did not stop with Tesla. The Skybridge Capital founder further added that Elon Musk holds a worth of over $5 billion in BTC via Tesla, SpaceX, and personally. According to Anthony, no human has taken such a strong responsibility of protecting the planet against climate change.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
