Bitcoin ETF Approval Delayed by SEC as Scaramucci's SkyBridge Clashes with Grayscale

SkyBridge Capital, led by Anthony Scaramucci, has expressed support for the recent wave of Bitcoin spot ETF applications that have been submitted to the SEC, putting it at odds with Grayscale. While Grayscale has raised concerns about Coinbase's suitability as a surveillance partner, SkyBridge strongly disagrees and believes that Coinbase is well-equipped for the task. SkyBridge argues that the SEC does not need to delay applications to allow other market participants to catch up, and that all issuers could revise their practices to comply with the rules if the pending applications are approved. Grayscale, on the other hand, has sued the SEC to force the approval of its prior applications, which would use the CME Bitcoin Futures market to address fraud concerns.