U.S. SEC declares Tianqiao Capital’s Bitcoin ETF registration statement “invalid”

BlockBeats news, on March 13, Bloomberg Senior ETF Analyst Eric Balchunas said that the U.S. Securities and Exchange Commission (SEC) today ordered Skybridge Capital’s Bitcoin ETF “First Trust SkyBridge Bitcoin ETF Trust” to comply with Section 1 of the Securities Act of 1933. 6(a), declares its document registration statement to be "invalid". More than nine months have elapsed since the filing and the document has not become effective and has not been timely amended or withdrawn following a Rule 479 notification. SkyBridge Capital filed this Bitcoin ETF application on March 19, 2021, in partnership with investment advisory firm First Trust Advisors.