First Trust Delays Effective Date of SkyBridge Crypto Industry ETF Amendment to Late October

The ETF's delayed amendment pushes the effectiveness date to October 24, 2024, extending the review period.

October 24, 2024

First Trust Extends Amendment Review for SkyBridge Crypto Industry ETF

First Trust Exchange-Traded Fund VIII has submitted a post-effective amendment for its First Trust SkyBridge Crypto Industry and Digital Economy ETF, pushing back the effective date of a previous amendment. The filing, dated October 2024, delays the effectiveness to October 24, 2024. This extension provides additional time for review and adjustments before the changes in the ETF’s structure or operations take effect.

The SkyBridge Crypto Industry and Digital Economy ETF aims to give investors exposure to the growing cryptocurrency and digital economy sectors. While the ETF has attracted significant attention due to its focus on blockchain technology and the broader digital economy, the delayed amendment suggests that additional considerations are being factored in before finalizing changes.

Administrative Details and Strategic Implications

The filing includes certifications from key officers, including James M. Dykas, President and CEO, and Derek D. Maltbie, Chief Financial Officer. Both officers confirmed the accuracy and completion of the filing in compliance with regulatory standards. This procedural step is essential for ensuring that the ETF meets all legal requirements before any changes take effect.

The extension of the effective date allows First Trust to further refine the ETF's structure, particularly as the digital economy faces both opportunities and challenges in a rapidly shifting regulatory environment. As cryptocurrency and blockchain technology continue to evolve, this ETF is expected to remain a focal point for investors seeking exposure to these emerging sectors. By delaying the amendment, First Trust ensures that any updates to the ETF are well-aligned with current market conditions and regulatory expectations.