Scaramucci's SkyBridge Capital Now Holds $700 M in Crypto

by in Cryptocurrency News

Scaramucci SkyBridge Capital

The founder and managing partner of major investment firm SkyBridge Capital, Anthony Scaramucci announced during a recent interview that the company presently owns $700 M worth of cryptocurrencies and aims to present more crypto products.

Related: Cryptocurrency hedge fund profits soar nearly 25%

On September 13, SkyBridge Capital announced a collaboration with NAX (New Asset eXchange) to expand its involvement in the crypto industry. In particular, due to the partnership, the firm will provide services, such as digital applications and Institutional investment opportunities based on crypto platform Algorand.

For this purpose, it will use the fund known as UNLOX. Anthony Scaramucci announced that the company raised over $100 M from the capped $250 M towards the newly started Algorand fund.

On September 14, SkyBridge applied for a crypto ETF. In case the agency approves the First Trust SkyBridge Crypto Industry and Digital Economy ETF, it would invest at least 80% of its net assets into top firms connected with crypto, however it would not have direct exposure.

According to Scaramucci, crypto is here to stay, and if regulators aim to regulate the sphere, they had better do it quickly. Talking about the SEC chairman Gary Gensler’s approach, Scaramucci says he understands the caution of authorities, but there is a need to fully understand the crypto industry as it’s going to be a big part of the future. Scaramucci says crypto is moving forwards and getting more comfortable. Previously, the financer restated his Bitcoin price prediction of $100.000 in 12 months.

Recently, Scaramucci co-hosted the Salt Conference in New York, which lasted from September 13 to 15. During the forum, finance, technology and geopolitics aspects were discussed.