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Anthony Scaramucci\u2019s 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 \u201cFirst Trust Skybridge Bitcoin ETF Trust\u201d notes that the ETF aims to list common shares on NYSE Arca.<\/strong><\/p>\n Skybridge Capital and its founder Anthony Scaramucci have been all about bitcoin (BTC)<\/a> these days and even more so after the company\u2019s successful launch of the Skybridge Capital Bitcoin Fund. At the end of February, Scaramucci said<\/a> in an interview that he expects $100k BTC<\/a> 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.<\/p>\n The S-1 registration<\/a> filed on Friday notes that the ETF will be dubbed the \u201cFirst Trust Skybridge Bitcoin ETF Trust\u201d 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 \u201cnewly organized.\u201d Because there is no prior history, common shares of the Skybridge bitcoin trust may trade a discount from their net asset value (\u201cNAV\u201d). The former White House communications director Scaramucci\u2019s company also says that the trust is an \u201cemerging growth company.\u201d<\/p>\n \u201cThe trust is an \u2018emerging growth company,\u2019\u201d the Skybridge Capital registration filing says. \u201cAs that term is used in the Jumpstart Our Business Startups Act (the \u201cJOBS Act\u201d) and, as such, may elect to comply with certain reduced reporting requirements,\u201d the ETF filing adds. The registration explains the risks involved with the \u201cSkybridge Bitcoin ETF Trust\u201d which is the typical standard statements like: \u201cBitcoin is a new technological innovation with a limited history.\u201d<\/p>\n \u201cThere is no assurance that usage of bitcoin will continue to grow,\u201d the ETF filing from Skybridge Capital notes. \u201cA 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.\u201d<\/p>\n <\/ins> <\/ins> <\/p>\n In addition to the filing, Anthony Scaramucci has been discussing bitcoin an awful lot on Twitter and speculated that Elon Musk\u2019s firm Spacex has bitcoin (BTC<\/a>) on its balance sheet. The speculative tweet<\/a> from Scaramucci also was focused on the subject of climate change and renewable energy. \u201cElon Musk didn\u2019t stop with Tesla,\u201d Scaramucci insisted in a tweet. \u201cI 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,\u201d the Skybridge Capital founder added.<\/p>\n Scaramucci continued<\/a>:<\/p>\n [The] idea Elon Musk would invest in [a] \u201cdirty asset\u201d is absurd. [The] future of bitcoin mining is renewable energy. Elon Musk sees future 1) renewables replace fossil fuels 2) bitcoin demonetizes gold, RE, equities & art + becomes [the] dominant store of value. [The] answer to energy FUD is Elon Musk.<\/strong><\/em><\/p>\n<\/blockquote>\n Scaramucci also did an interview<\/a> 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<\/a> price prediction and said \u201cI\u2019m sticking with $100,000 because if I tell people what I really think\u2026 they\u2019re gonna think that I\u2019m nuts.\u201d<\/p>\n What do you think about Scaramucci\u2019s 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. <\/strong><\/em><\/p>\nSkybridge Capital Files to List a Bitcoin ETF<\/h2>\n
Scaramucci\u2019s Spacex Tweet<\/h2>\n
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