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SkyBridge Capital to Launch Bitcoin Fund; Files with SEC

SkyBridge

SkyBridge Capital, Anthony Scaramucci’s multi-billion dollar hedge fund, has formally applied to the US securities regulator to launch a new Bitcoin (BTC) fund.

The request was filed about six weeks after SkyBridge first notified the securities regulator of its intention to launch a bitcoin-related hedge fund. It is unclear what the size of the total investment will be, but the minimum funds any investor has to offer would be $50,000. Moreover, only accredited investors will have access to this new Bitcoin fund, leaving retail investors out of luck.

“Investment Funds may hold long and short positions in digital assets […] The Business and Investment Funds can also invest in securities of companies linked, in whole or in part, to digital assets or digital asset technologies (including digital asset mines, payment technologies, digital security, or crypto-trading), or otherwise directly or indirectly exposed to emerging tech assets,” the prospectus reads.

This year, names such as Paul Tudor Jones, Stanley Druckenmiller and Jim Camer have lent their weight to Bitcoin, while companies such as MassMutual and Ruffer Investment Companies have also entered the market. On the corporate side, MicroStrategy, Square, and Cypherpunk have all made major additions to their balance sheets in recent months. Generally, the institutional and corporate uptake of Bitcoin has emerged as one of 2020’s biggest tales.


You may also want to read: Hong Kong Launches First Approved Bitcoin Fund

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