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Skybridge Capital file for an Ethereum ETF and stay all-in on crypto

Skybridge Capital Chief Executive, Anthony Scaramucci, has announced that the company will launch a private Ethereum fund. He did so when appearing on The Scoop podcast where he spoke about his Bitcoin journey and the future of Bitcoin and Skybridge Capital.

Scaramucci also said that his firm filed for an Ethereum ETF with the Securities and Exchanges Commission, while there is already a pending Bitcoin ETF waiting for their approval.

The Chief Executive was on The Scoop podcast with Frank Chaparro to talk about his bitcoin journey and the fund’s crypto game plan going forward.

All chips in the middle

In the podcast, Scaramucci said that Skybridge Capital is fully committed to crypto:

“We have a full commitment to crypto.”

The CEO said that they planned to launch their Ethereum fund on July 1stafter which they would file for an ETF.

Skybridge late last year announced their first big move into crypto after they had invested $182 million in Bitcoin. With the purchase they were one of the first hedge funds to become active in this space, as they did not want to be too late to get in.

Market adoption

Scaramucci also spoke about the traditional financial world and the adoption of digital assets. Although he believes that not everyone might jump in (at once), there will will be plenty entering the market, to drive asset prices up:

“I just think it’s one of those weird assets where the higher the prices go, the more people are going to be drawn into the pool.”

For Anthony Scaramucci, Morgan Stanley’s move into Bitcoin as one of the larger traditional financial institutions is a clear sign. Hence, he is bullish for more institutional money to come in.

Skybridge Capital currently holds a $500 million Bitcoin fund. They are not the only owns with large interests in the crypto market. Michael Saylor’s MicroStrategy has recently surpassed the 100,000 Bitcoin barrier with its latest purchase of $500 million worth of the top cryptocurrency.

The post Skybridge Capital file for an Ethereum ETF and stay all-in on crypto appeared first on iGaming.

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Author: Peter Siu