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Home Crypto SkyBridge Capital Files With SEC To Launch Crypto-Adjacent Exchange-Traded Fund

SkyBridge Capital Files With SEC To Launch Crypto-Adjacent Exchange-Traded Fund

Global funding agency SkyBridge Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) centered on cryptocurrencies and different digital property.

According to the Tuesday filing, First Trust SkyBridge Crypto Industry and Digital Economy ETF will make investments no less than 80% of their web property into firms associated to the digital economic system and the crypto business ecosystem, however not digital property themselves.

SkyBridge defines the “crypto business ecosystem” to be firms concerned in servicing the crypto-asset markets, together with crypto mining corporations, crypto mining tools suppliers, crypto monetary providers firms, or different monetary establishments with primarily crypto-related clientele.

Companies associated to the digital economic system, in line with SkyBridge, are capable of present on-line banking providers, function digital fee gateways for companies and others, present on-line asset administration and buying and selling platforms, and supply software program providers.

The new fund will function below the ticker image CRPT on the NYSE Arca, an change the place shares and choices are traded.

Last December SkyBridge invested $182 million into BTC, and in March filed with the SEC to open a Bitcoin ETF.

Other corporations have additionally begun investing within the rising digital asset area, together with Atlanta-based Invesco.

SkyBridge additionally invests in hedge funds, personal fairness, and actual property, with over $6 billion in property below administration as of July.

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Featured Image: Shutterstock/asharku

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