<DOCUMENT>
<TYPE>485BXT
<SEQUENCE>1
<FILENAME>etf_bxt.txt
<DESCRIPTION>POST EFFECTIVE ADMENDMENT
<TEXT>
     As filed with the Securities and Exchange Commission on August 6, 2012
================================================================================
                                           1933 Act Registration No. 333-125751
                                            1940 Act Registration No. 811-21774

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933                      [ ]
Pre-Effective Amendment No. __                                               [ ]
Post-Effective Amendment No. 68                                              [X]
                                     and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940              [ ]
Amendment No. 68                                                             [X]


                        FIRST TRUST EXCHANGE-TRADED FUND
               (Exact name of registrant as specified in charter)

                       120 East Liberty Drive, Suite 400
                            Wheaton, Illinois 60187
              (Address of Principal Executive Offices) (Zip Code)


       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (800) 621-1675

                       W. Scott Jardine, Esq., Secretary
                        First Trust Exchange-Traded Fund
                           First Trust Advisors L.P.
                       120 East Liberty Drive, Suite 400
                            Wheaton, Illinois 60187
                    (Name and Address of Agent for Service)

                                    Copy to:
                               Eric F. Fess, Esq.
                             Chapman and Cutler LLP
                             111 West Monroe Street
                            Chicago, Illinois 60603


It is proposed that this filing will become effective (check appropriate box):

[ ] Immediately upon filing pursuant to paragraph (b)
[X] on August 10, 2012 pursuant to paragraph (b)
[ ] 60 days after filing pursuant to paragraph (a)(1)
[ ] on (date) pursuant to paragraph (a)(1)
[ ] 75 days after filing pursuant to paragraph (a)(2)
[ ] on (date) pursuant to paragraph (a)(2) of Rule 485

If appropriate, check the following box:

[X] this post-effective amendment designates a new effective date for a
    previously filed post-effective amendment.


<PAGE>


                  CONTENTS OF POST-EFFECTIVE AMENDMENT NO. 68

      This Post-Effective Amendment to the Registration Statement comprises the
following papers and contents:


      The Facing Sheet

      The sole purpose of this filing is to delay the effectiveness of the
Registrant's Post-Effective Amendment No. 66, as it relates to First Trust CBOE
S&P 500 VIX Tail Hedge Fund, a series of the Registrant, until August 10, 2012.
Parts A, B and C of the Registrant's Post-Effective Amendment No. 66 under the
Securities Act of 1933 as it relates to First Trust CBOE S&P 500 VIX Tail Hedge
Fund, a series of the Registrant, filed on July 18, 2012, are incorporated by
reference herein.

      Signatures


<PAGE>


                                   SIGNATURES

      Pursuant to the requirements of the Securities Act and the Investment
Company Act, the Registrant certifies that it meets all of the requirements for
effectiveness of this Registration Statement under rule 485(b) under the
Securities Act and has duly caused this Registration Statement to be signed on
its behalf by the undersigned, duly authorized, in the City of Wheaton, and
State of Illinois, on the 6th day of August, 2012.

                                       FIRST TRUST EXCHANGE-TRADED FUND


                                       By: /s/ Mark R. Bradley
                                           ------------------------------------
                                           Mark R. Bradley, President and Chief
                                           Executive Officer

      Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the date indicated:


<TABLE>
<CAPTION>
SIGNATURE                               TITLE                                 DATE

<S>                                     <C>                                   <C>
/s/ Mark R. Bradley                     President and Chief Executive         August 6, 2012
------------------------------------    Officer
    Mark R. Bradley

/s/ James M. Dykas                      Treasurer, Chief Financial Officer    August 6, 2012
------------------------------------    and Chief Accounting Officer
    James M. Dykas

                                                         )
James A. Bowen*                                  Trustee )
                                                         )
                                                         )
Richard E. Erickson*                             Trustee )
                                                         )
                                                         )
Thomas R. Kadlec*                                Trustee )                    BY: /s/ W. Scott Jardine
                                                         )                        ------------------------------
                                                         )                            W. Scott Jardine
Robert F. Keith*                                 Trustee )                            Attorney-In-Fact
                                                         )                            August 6, 2012
                                                         )
Niel B. Nielson*                                 Trustee )
                                                         )
</TABLE>

*  Original powers of attorney authorizing James A. Bowen, W. Scott Jardine and
   Eric F. Fess, to execute Registrant's Registration Statement, and Amendments
   thereto, for each of the trustees of the Registrant on whose behalf this
   Registration Statement is filed, were previously executed, filed as an
   exhibit and are incorporated by reference herein.
</TEXT>
</DOCUMENT>