Scaramucci’s SkyBridge Capital will launch a private ETH fund

Scaramucci’s SkyBridge Capital is considering launching a private ETH fund and is also planning to sign up for an Ethereum ETF as we can see more in today’s latest Ethereum news.

Scaramucci’s Skybridge Capital is waiting for the SEC to review its Bitcoin ETF application. The hedge fund of former White House communications director Anthony Scaramucci is planning to launch a separate ETH fund for its investors. As we saw earlier, it launched a $ 25 million BTC fund in January that will apply to the Securities and Exchange Commission for an Ethereum ETF. SkyBridge Capital, based in New York City, is one of many well-known firms that have filed for a BTC ETF with the SEC. The company, valued at $ 7 billion and filed in March, is currently awaiting a review.

An ETF is a popular investment vehicle that allows people to buy stocks in order to track the price of the asset. This can be anything from real estate to foreign currencies, so an ETF allows investors to put their money in crypto without having to own the cryptocurrency, just parts of it. . Bitcoin or Etheruem ETFs do not exist in the US because the SEC has refused to approve them. The Commission’s aim is to protect retail investors from possible harm as prices remain vulnerable to market manipulation. Investors still want a product, however, and analysts previously said that due to changes in the SEC, it is likely that one will hit the US this year. In Canada, four BTC ETFs and four Ethereum ETFs are traded on the Toronto Stock Exchange.

They were very popular when they first hit the market, but have seen a massive inflow of money since then as the entire market lost value. Bitcoin ETFS started trading on their exchanges in Brazil and Dubai just a week ago. SkyBridge Capital is an SEC-registered investment advisory firm whose CEO, who was fired 10 days prior to his appointment as White House communications director, is currently solely focused on Bitcoin.

As recently reported, the $ 1.5 billion investment in Bitcoin Tesla is only a fraction of Musk’s total crypto holdings, according to Skybridge Capital’s Scaramucci. According to Anthony Scaramucci, Tesla has invested $ 1.5 billion in BTC, in less than a third of the total crypto reserves of Musk and its companies.

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