The SkyBridge Capital hedge fund has filed an application for an exchange-traded fund (ETF) that invests in crypto companies.
United States hedge fund SkyBridge Capital has joined the long list of firms sending in applications for crypto-based ETFs. According to an SEC filing, the company has applied for a fund called the Crypto Industry and Digital Economy ETF.
However, like many other crypto ETFs that have been submitted in the past few months, the fund will not directly invest in bitcoin or any other cryptocurrencies. Instead, it will invest 80% of its net assets in the shares of companies that work in the crypto space. In other words, it does not offer direct exposure to bitcoin, which may be slightly more amenable from the SEC’s viewpoint.