The Mooch’s Bitcoin ETF Dreams Have Been Dashed

Americans may be ready for a sort-of bitcoin exchange-traded fund. But they are still not yet ready for real, actually-investing-real-money-in-fake-money one, and certainly not one run by Anthony Scaramucci.

The U.S. Securities and Exchange Commission rejected Intercontinental Exchange’s NYSE Arca proposal for a Bitcoin exchange-traded fund from Anthony Scaramucci’s Skybridge Capital.

The filing did not meet "the requirement that the rules of a national securities exchange be 'designed to prevent fraudulent and manipulative acts and practices' and 'to protect investors and the public interest,'" the SEC said Thursday in a filing.

Whatever would make Gary Gensler & co. think that the Mooch wasn’t up to protecting people from scams? Not that it really seems to matter who’s proposing these things.

The regulator used similar arguments to deny proposals from Valkyrie Investments and Kryptoin in December. 

SEC Rejects Bitcoin ETF Plan From Anthony Scaramucci’s Skybridge Capital [Bloomberg]
The SEC has blocked Anthony Scaramucci's Bitcoin ETF [Reuters via CNN Business]

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