SkyBridge Capital founder Anthony Scaramucci, at the Forbes Digital Assets & Web3 Summit on Wednesday, predicted having a Bitcoin ETF by the end of the year. He believes to introduce a bitcoin exchange-traded fund in-line with the regulations and guidelines of the U.S. Securities and Exchange Commission (SEC).
Moreover, many financial experts believe that as bitcoin becomes more and more mainstream, more Americans may own bitcoin, which would force the SEC to approve bitcoin ETFs considering investor protection.
Scaramucci on Bitcoin ETF and Crypto Future
Anthony Scaramucci, founder and managing partner at investment firm SkyBridge Capital, at the Forbes Digital Assets & Web3 Summit spoke about how political insiders and average individuals are representing the future of blockchain. He also discusses the role of cryptocurrencies, including Bitcoin, in building the super-PACs and in the Russian-Ukraine conflict.
.@Scaramucci: "I'm going to venture to guess that we'll have a Bitcoin ETF before the end of the year" with @DelRayMan
Event link: https://t.co/ExwXp5swy5#FDAWeb3 pic.twitter.com/iRTzgB4Me1— Forbes Crypto (@ForbesCrypto) March 16, 2022
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Scaramucci also made a comment on U.S. Senator Elizabeth Warren, who has kept an anti-crypto stance, that she hates people making millions more from the crypto industry. Warren believes cryptocurrencies expose people to financial risks, promote financial crimes, and has a massive carbon footprint. Recently, Warren even drafted a crypto bill to prevent Russia from using cryptocurrencies to evade U.S. economic sanctions.
Scaramucci thinks both presidential candidates in the 2024 United States presidential election are going to be pro-crypto. With the launch of a super political action committee, named GMI PAC, backed by crypto-focused firms such as SkyBridge Capital and crypto exchange FTX, the crypto industry will be investing big in the upcoming election and for crypto-friendly candidates.
SEC History of Approving Crypto ETFs
In January, the SEC rejected the First Trust SkyBridge Bitcoin ETF in vetoes, raising concerns over the listing of spot bitcoin exchange-traded funds. The ETF seeks to provide easy exposure to Bitcoin, tracking spot or current price of the cryptocurrency.
Until now, the SEC has only approved two crypto-related ETFs. In October 2021, the agency approved the ProShares Bitcoin futures ETF and the Valkyrie Bitcoin Strategy ETF.
The crypto market is waiting for SEC decision on crypto fund manager Grayscale‘s petition to covert its Bitcoin Trust into a spot Bitcoin ETF.
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