SkyBridge goes all-in on crypto, betting on enormous development ahead
SkyBridge founder Anthony Scarramucci said that they think the digital currency markets depict enormous growth. SkyBridge Capital is helping in pivoting the majority of its assets under management to digital assets, as the area affects enormous growth for the company. The hedge fund was established by former U.S. politician Anthony Scaramucci in 2005, and 1st delved into Bitcoin in late 2020.
The company also has cash deployed in other hedge funds, late-stage private tech firms, and real estate, with its entire AUM, documented being around $7.3B. Skybridge now governs a $7M Bitcoin Fund among others and has been vigorously laboring to get a place BTC exchange-traded fund authorized by the U.S. Securities and Exchange Commission SEC.
Talking to Bloomberg in the lead-up to the annual SkyBridge Alternatives Conference or SALT this week, Scaramucci said that the company is moving itself to eventually be a prominent digital currency asset manager and adviser. Thdecideding the pandemic we had to relitigate their whole portfolio.
SkyBridge’s director of business development John Darsie reported that the company’s thriving focus on crypto was brought about due to an enormous drawdown in the credit portion of the company’s hedge fund manager portfolio. Seeking out enterprises with strong growth-oriented administrators, the company is now glancing for allocations across many crypto assets and blockchain programs, with Darsie reporting that SkyBridge is very bullish on the sector.
The bullish statements come just weeks after Scaramucci remarked that the blockchain industry has an extremely sharp future, but was worried by solely terrible U.S. politicians that could hinder the development of the local sector. Talking on the SEC with Bloomberg nonetheless, Scaramucci appeared fairly optimistic that the mechanism would approve an area BTC ETF once a few more components fall into place, while also noting that its application denial in January was not certainly specific to them.
I think the SEC is seizing the position that because the cash trading of BTC is occurring all over the globe, they don’t have a one-market clearing for all deals and peddles.
Have a look at this- $182M Invested in BTC by SkyBridge Capital
