Scaramucci’s Investment Firm to Launch a Private Ethereum Fund, Apply For Ether ETF

Anthony Scaramucci, who briefly served as the White House Director of Communications in the Trump administration, revealed in a recent interview with The Block that his hedge fund SkyBridge Capital will launch a private Ethereum (CRYPTO: ETH) fund on July 1st. Scaramucci also said that he’ll file for an Ethererum exchange-traded fund (ETF) as well.

“July 1st, we’re launching a private Ethereum fund. We’ll then file for an ETF for Ethereum. Again, it is anybody’s guess when those things will be going,” Scaramucci said.

The New York financier then pointed out that SkyBridge, which since the end of last year has invested close to half a billion dollars in Bitcoin (CRYPTO:BTC), had already applied for a Bitcoin ETF — which is under review since late May.

It’s worth noting that the Securities and Exchange Commission (SEC) has yet to give the nod to any Bitcoin ETFs. In fact, other companies, like Fidelity, Cathie Wood’s ARK Invest, VanEck, Grayscale Bitcoin Trust and a dozen asset managers have application filings pending at the SEC to launch a Bitcoin ETF.

Scaramucci also shared that his hedge fund is about to announce an “ETF for a digital innovation fund” that contains publicly traded assets that are linked to Ethereum, Bitcoin and other coins.

The founder of SkyBridge Capital also gave his views on the crypto space and how he expects it to evolve in the following year.

“I think that we’ll be sitting here a year from now, there’ll still be skeptics, still be people that are fence-sitters, but there will be slightly more people in the pool with us and, as a result of which, the prices will be higher. And I just think this is one of those weird assets where the higher the prices go, the more people are going to be drawn into the pool.”

Scaramucci is not alone in his opinion that cryptos like Ether and BTC will rise in value. Sentiment among Gen Z and millennial investors, who make up more than 90% of the crypto market, that the space is the future of currency remains high.

Price Action

Bitcoin was last changing hands above $33K, down about 0.12% on the day, while Ether traded 1.22% lower at $2,084.

Reference: Benzinga

Be the first to comment

Leave a Reply

Your email address will not be published.


*