TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

SkyBridge Capital launches private Ethereum fund and will apply for Ether ETF

  • Anthony Scaramucci’s SkyBridge Capital has launched a private Ethereum fund.
  • The investment firm will also apply for an Ether ETF, while its Bitcoin ETF application is waiting to be reviewed by the SEC.
  • The CEO has expressed that he would have expected a crypto-based ETF to be launched in the United States by now. 
SkyBridge Capital launches private Ethereum fund and will apply for Ether ETF
Sarah TranSarah TranIndependent Analyst

Hedge fund SkyBridge Capital has launched a private Ethereum fund, and it will also reportedly apply for an Ether exchange-traded fund (ETF). 

SkyBridge Capital branches out from Bitcoin

The New York-based global investment firm run by former White House Communications Director Anthony Scaramucci has had plans to launch a private Ethereum fund for its investors.

Scaramucci confirmed in a podcast published this week that the investment firm has launched an Ethereum fund on July 1 and will file for an Ether ETF. The CEO talked about SkyBridge Capital’s crypto expansion plans and said:

July 1st, we're launching a private Ether fund, if you will, an Ethereum fund. We'll file for an ETF for Ethereum, again it's anybody's guess when those things will be going.

He did not reveal further details about the launch or the filing of the Ether ETF.

The crypto investor said that the hedge fund filed for a digital innovation ETF earlier this week that contains publicly-traded assets that support and are linked to Bitcoin, Ethereum and other crypto assets. 

The New York-based firm is one of the many high-profile companies that have applied for a Bitcoin ETF with the SEC. The hedge fund applied in March, and the securities regulator is currently reviewing the application. So far, the agency has not yet approved any Bitcoin ETFs in the country.

Scaramucci stands by the view that Bitcoin is digital gold and thought that the United States would have been more receptive and responded quickly and positively to the rise of the leading cryptocurrency and other DeFi elements. He added:

If you had asked me back in May of last year, 'When are we going to have an ETF,’ I would've thought it would have been by now.

While Scaramucci believes that not everyone will jump into the crypto industry, enough people will come into the market to drive the price of assets up. He explained:

I just think it’s one of those weird assets where the higher the prices go, the more people are going to be drawn into the pool.

The CEO concluded that SkyBridge would continue to grow its existing crypto-related funds.

Author

Sarah Tran

Sarah Tran

Independent Analyst

Sarah has closely followed the growth of blockchain technology and its adoption since 2016.

More from Sarah Tran
Share:

Editor's Picks

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap (UNI) edges higher near an immediate resistance at $3.88 on Tuesday. The native decentralized exchange (DEX) token is defying a broader correction in the cryptocurrency market, even as Bitcoin (BTC) falls toward $63,000 from its July highs around $67,000.
XRP slides amid risk-averse pressure and ahead of Fed rate decision

XRP slides amid risk-averse pressure and ahead of Fed rate decision

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Bitcoin (BTC) is falling toward the immediate $63,000 support at the time of writing on Tuesday, weighed down by continued risk-off sentiment. Altcoins, including Ethereum (ETH) and Ripple (XRP), remain under pressure, trading below $1,900 and $1.10, respectively. Crypto market sentiment remains largely unresponsive and in the Fear territory, as reflected in the Fear & Greed Index.
Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin is falling towards 63k, at a 10-day low, as a sell-off in AI-linked stocks has hit risk sentiment, spilling over into cryptocurrencies and as investors look cautiously ahead to tomorrow's FOMC rate decision. Bitcoin is down 2.7% over the past 24 hours and more than 4% over the past seven days as it extends its pullback from 67k the July high reached last week.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.