The two Bitcoin ETF proposals namely Skybridge and Fidelity are now under review by the U.S. SEC, with more on the way. Although, a file has never been authorized by the SEC.

Skybridge & Fidelity Apply for Bitcoin ETF

According to SEC’s recent filing,  the U.S. Securities and Exchange Commission (SEC) is looking into two more Bitcoin ETF or exchange-traded fund proposals.

Anthony Scarmucci’s SkyBridge Capital and Fidelity Investment’s Wise Origin Bitcoin Trust are two Bitcoin ETF proposals that joined four others that are now under-reviewed by the U.S. Securities Exchange and Commission (SEC), with more on the way. Ten more are believed to be pending.

The investment vehicles allow you to gain exposure to Bitcoin without having to acquire or store the asset directly. ETFs are a common component of many financial portfolios.

However, the SEC has been hesitant of allowing a crypto version that would appeal to regular investors, citing, among other things, the risk of possible market manipulation. Back in 2013, the Winklevoss twins were the first to create a Bitcoin ETF with a now-canceled filing

Bitcoin ETF Proposals Are Being Investigated

VanEck Kryptoin, WisdomTree, and Valkyrie are the four additional proposals now being investigated by the SEC. The regulator is required to make an initial judgment on each application within 45 days, although the time can be extended for up to 240 days.

If authorized, the Bitcoin ETF proposal would trade on the New York Exchange, at the same time Wise Origin Bitcoin Trust would trade on the  Chicago Board Options Exchange (CBOE).

Countries like Canada and Brazil by this time have their own crypto ETFs, and cryptocurrency entrepreneurs are bullish on the idea of an American one.

One River is such an applicant that applied for a proposal to launch a carbon-neutral Bitcoin ETF even includes ex-SEC chairman Jay Clayton on its advisory board—the individual who has consistently stated that the US market does not require a crypto ETF.