Anthony Scaramucci’s 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 “First Trust Skybridge Bitcoin ETF Trust” indicates that the ETF intends to list ordinary shares on NYSE Arca.
Skybridge Capital files to list a Bitcoin ETF
Skybridge Capital and its founder, Anthony Scaramucci, these days have been all about bitcoin (BTC) and even more so after the successful launch of the Skybridge Capital Bitcoin Fund. At the end of February, Scaramucci said in an interview that he expects $ 100k BTC prices this year. On March 19, 2021, Skybridge Capital submitted an S-1 listing prospectus for an exchange traded fund (ETF). Skybridge Capital will count among a number of companies, such as Vaneck and Valkyrie Digital Assets who want to approve their ETFs.
The S-1 registration filed on Friday notes that the ETF will be called the ‘First Trust Skybridge Bitcoin ETF Trust’, but the checkbox that will use it has been left blank. Skybridge hopes to list ordinary shares on NYSE Arca, but notes that the trust is ‘newly organized’. As there is no previous history, ordinary shares of the Skybridge bitcoin trust may trade at a discount to their net asset value (‘NAV’). Former White House communications director Scaramucci also says the trust is an ’emerging growth company’.
‘The trust is an’ emerging growth company ‘, according to Skybridge Capital’s registration. ‘As the term is used in the Jumpstart Our Business Startups Act (the’ JOBS Act ‘), it may choose to comply with certain reduced reporting requirements,’ the ETF submission adds. The registration explains the risks associated with the “Skybridge Bitcoin ETF Trust”, which are typical standard statements such as: “Bitcoin is a new technological innovation with a limited history.”
“There is no assurance that the use of bitcoin will continue to grow,” the Skybridge Capital ETF filing said. “A shrinkage in the use of bitcoin could lead to increased volatility or a decrease in the price of bitcoin, which could adversely affect the value of ordinary shares.”
Scaramucci’s Spacex tweet
In addition to the submission, Anthony Scaramucci bitterly discussed bitcoin on Twitter, speculating that Spacex of Elon Musk has bitcoin (BTC) on its balance sheet. The speculative tweet of Scaramucci was also focused on the topic of climate change and renewable energy. “Elon Musk did not stop at Tesla,” Scaramucci insisted in a tweet. ‘I understand that Spacex owns bitcoin on its balance sheet. Elon Musk owns more than $ 5 billion in bitcoin via Tesla, SpaceX and personally. No living person has done more to protect the planet from climate change, ”added the founder of Skybridge Capital.
Scaramucci prosecute:
[The] idea in which Elon Musk would invest [a] “Dirty asset” is absurd. [The] the future of bitcoin mining is renewable energy. Elon Musk sees future 1) renewable energy replaces fossil fuels 2) bitcoin demonizes gold, RE, stocks and art + becomes [the] dominant store of value. [The] answer to energy FUD is Elon Musk.
Scaramucci also conducted an interview on March 19, explaining that more businesses should own bitcoin treasury. Skybridge Capital manages $ 600 million in bitcoin and Scaramucci also discussed the possibility of Skybridge ethereum investment products. The Skybridge founder further predicted his $ 100,000 BTC price prediction, saying, “I stick to $ 100,000, because if I tell people what I really think … they’ll think I’m nuts.”
What do you think of Scaramucci’s Skybridge Capital filing to list an ETF on NYSE Arca in an SEC listing prospectus? Let us know what you think of this topic in the comments below.
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