Billion-Dollar Wealth Manager Skybridge Capital Plans to Launch a Bitcoin Fund
In mid-November, a filing registered with the U.S. Securities and Exchange Commission (SEC) had shown that the investment firm Skybridge Capital may invest in crypto assets like bitcoin. Over a month later, Skybridge Capital filed another registration form with the U.S. SEC (Form D) as it plans to launch a bitcoin fund.
The wealth management firm run by Anthony Scaramucci, Skybridge Capital, is launching a bitcoin fund called the Skybridge Bitcoin Fund L.P. The news of the Skybridge’s fund stems from a Form D Securities and Exchange Commission filing. The New York-based company manages over $9.2 billion assets under management (AUM) and the filing shows it wants to manage a bitcoin (BTC) fund for accredited investors.
According to the filing submitted on December 21, 2020, it will be for accredited investors who can purchase $50k or more. It’s a pooled investment and hedge fund, and as for the issuance-size Skybridge has declined to disclose. Further, the Skybridge Bitcoin Fund will follow Rule 506(c) that allows the solicitation and general advertisement of the offering to accredited investors.
Skybridge Capital was founded in 2005 by Anthony Scaramucci, Brett S. Messing, Raymond Nolte, and Troy Gaveski. The news of the Skybridge Bitcoin Fund filing on Monday follows the company explaining that the firm’s G II Fund “may hold long and short positions in digital assets.” Of course, after the Form D filing was revealed for the Skybridge Bitcoin Fund, bitcoin proponents discussed the entry on social media and forums.
“Boom! Skybridge Capital is doubling down on Bitcoin,” tweeted Kevin Rooke. “They just registered the Skybridge Bitcoin Fund with the SEC, one month after allowing two of their other funds to invest in bitcoin.”
The founder of Skybridge Anthony Scaramucci was also a former White House director of communications. Scaramucci has said in an interview that “a fan” of cryptocurrencies and believes that “digital assets have a future.”
The Skybridge founder also did an interview with Anthony ‘Pomp’ Pompliano and discussed bitcoin and the current structural issues in America. “There’s something here,” Scaramucci told Pompliano. “There’s value to the notion that I can exchange value with you, confidentially — and I can exchange it through a mechanism that looks very secure.”
“Blockchain is going to get tighter, and more reformed, and more secure,” Scaramucci added. “People are going to have more confidence in it, and I don’t think it can be stopped.”
What do you think about Skybridge Capital registering to launch a bitcoin fund? Let us know what you think about this subject in the comments section below. Venezuela"s Asonacrip: Bitcoin Bull Run Could Help Boost Usability of Cryptos Such as Petro FINANCE | 7 hours ago Global Equity Head at Jefferies Says the Investment Bank Will Buy Bitcoin and Reduce Exposure to Gold FINANCE | 10 hours ago Tags in this story Anthony ‘Pomp’ Pompliano, Anthony Scaramucci, Bitcoin, Blockchain, Cryptocurrencies, Finance, Form D, G II Fund, Pompliano Podcast, Rule 506(c), SEC, SEC filing, Skybridge, Skybridge Bitcoin Fund, Skybridge Capital
Image Credits: Shutterstock, Pixabay, Wiki Commons Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments