SEC opens review of Bitcoin-ETF applications from Fidelity and SkyBridge

The U.S. Securities and Exchange Commission (SEC) has begun reviewing applications from SkyBridge Capital and Fidelity Investments for launching an exchange-traded fund (ETF) based on the first cryptocurrency.

If approved, the first instrument will be listed on Cboe BZX, the second on the New York Stock Exchange.

The SEC is expected to respond within 45 days. The regulator may extend the deadline by up to 240 days, after which it will issue a final decision.

The SEC is also reviewing requests for Bitcoin ETFs from VanEck, Kryptoin, WisdomTree and Valkyrie Digital Assets.

Bitcoin-based ETFs have been listed on stock exchanges Canada and Brazil after regulatory approvals.

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