SkyBridge Capital’s Scaramucci plans to seek expansion from Bitcoin and is set to launch a private Ethereum fund with an ETF to branch out crypto operations.
SkyBridge Capital’s Anthony Scaramucci stated in a podcast that he will be launching a private Ethereum fund and consecutively will file an Ethereum ETF to shift focus on other crypto alternatives available.
Earlier, SkyBridge Capital’s sole focus was on bitcoin and had also filed for Bitcoin ETFs and has investments amounting to US$ 500 million on the coin. The Securities and Exchange Commission is yet to approve the pending Bitcoin ETFs of SkyBridge Capital.
Anthony Scaramucci is a former White House official and had been quite active in pursuing crypto dealings favouring bitcoin. Recently his company SkyBridge is all set to reroute towards ethereum and test its growing market prices and excellent value.
SkyBridge Capital Ventures into Ethereum and Will Launch a Private Ethereum Fund
Scaramucci in his podcast declared his intention to launch a private ethereum fund on July 1st. He did not provide any other information about the listing or details related to the impending launch.
Ether as the token of the ethereum network is the second-largest cryptocurrency in terms of market value. The digital currency has often faced high market fluctuations but somehow has managed to maintain the steady market price by an average approximate of 900%.
Being a stark cryptocurrency proponent, Scaramucci had always considered Bitcoin as digital gold. He further stated on the podcast how the growing receptivity of crypto variants, especially Bitcoin in the US propelled him to pursue and invest in BTC. Now he seeks to branch out and try other cryptocurrency variants.
The company had always maintained a steady investment in the BTC and had been quite active in pursuing Bitcoin as a promising crypto alternative. However, the recent change in amplifying the company’s operations had made Scaramucci turn towards ethereum and unlock its digital aptitude.
SkyBridge’s Scaramucci also announced that they have filed for a digital innovation ETF that contains information regarding public assets that have support or are actively linked with Bitcoin, Ether, and other prominent coins.
With the rising popularity of Bitcoin and Ethereum in the global finance sector, it has become natural for the brands to turn towards such types to double their investments and lead safe transactional values. SkyBridge intends to pursue other options to make their brand seek more crypto exposure.
The podcast ended with Scaramucci declaring his desire to make SkyBridge explore the domain of other crypto variants and continue to grow its existing BTC and crypto-related funds.
Juhi Mirza is an archaeological major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.