Scaramucci Calls for $100k, Files for Bitcoin ETF

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Scaramucci Bitcoin ETF

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Global investment management company Skybridge Capital is reportedly planning to file for Spot Bitcoin exchange-traded-fund (ETF) within a week.

According to a report by Bloomberg Law, the founder of the company and the former White House Director of communications, Anthony Scaramucci, “is planning to file again for permission to list a spot Bitcoin exchange-traded fund on the New York Stock Exchange.” 

The new application comes around 15 months after the last filing. Notably, prior to this, the investment company submitted a regulatory application to the Securities and Exchange Commission (SEC) in March last year, seeking approval to offer a spot bitcoin ETF.

However, the SEC rejected the application in January 2022, claiming that Skybridge had not met with requirements intended “to prevent fraudulent and manipulative acts and practices” and “to protect investors and the public interest.”

The SEC Has Denied Several Bitcoin ETFs

This was not the first SEC has done something like this. The agency is criticized by many for its constant rejection and postponing of decisions when it comes to Bitcoin ETFs.

In October 2021 Grayscale Bitcoin Trust applied for the approval to covert its Bitcoin fund into a spot Bitcoin ETF, but the decision on the application is still pending after nine months. In May 2022 the SEC also blocked the listing of a One River Carbon Neutral Bitcoin ETF.

Are the Bitcoin Bulls Awake?

Scaramucci has thrown out his laser eyes on twitter, but with his call for 100K and doubling down on a Bitcoin EFT, he’s still a Bitcoin bull. Joe DiPasquale, the CEO of Bitbull Capital, also called Bitcoin at $100k by 2023. Does this mean that 100K signals the start of institutional investment? Only time will tell.

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