First Trust Advisors and SkyBridge Capital, the hedge fund run by Trump-era White House Communications Director and digital assets investor Anthony Scaramucci, have been ordered by the Securities and Exchange Commission (SEC) to mark their bitcoin (BTC) ETF application as abandoned.

In a notice published on Wednesday, the SEC said that the registration statement must be declared abandoned because the First Trust SkyBridge Bitcoin ETF failed to respond to prior communications from the Commission.