SkyBridge’s Bitcoin ETF setback showcases SEC hesitancy

The Securities and Exchange Commission last week rejected a proposed rule change that would have allowed NYSE Arca to list and trade shares in a fund backed by Bitcoin -- specifically the shares of the First Trust SkyBridge Bitcoin ETF Trust.

SkyBridge Capital Founder Anthony Scaramucci told investors not to lever Bitcoin and advocated for investors to ride out the digital currency wave in a CNBC interview from the sidelines of the iConnections Global Alts 2022 event in Miami on Tuesday.

During a digital assets panel moderated by Scaramucci, John D'Agostino, senior advisor of Coinbase . . .

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Christopher Faille

Christopher Faille has written on a variety of legal, regulatory, and financial issues for decades. He is the author of "The Decline and Fall of the Supreme Court" (1995), for example, and the coauthor, with David O'Connor, of "Basic Economic Principles" (2000). He was an early reporter with Lipper HedgeWorld and has contributed to Forbes and to the Hedge Fund Law Report.

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