SkyBridge Capital, a hedge-fund run by Anthony Scaramucci just enabled itself to invest in the cryptocurrency ecosystem. Now, the fund is able to stake on crypto (really digital assets) from a distance.
From recent registrations with the United States Securities and Exchange Commission, US SEC, which were made public on the 13th and 16th of November 2020, the Asset Manager revealed that two of its hedge funds “may seek exposure to digital assets.”
The filings at the United States SEC are to enable Skybridge to intelligently stash monies into the crypto space or fund business enterprises within the crypto sector.
Mind you, don’t conclude that this ten years old hedge fund is set to soly stake on bitcoin (BTC, +2.85%) particularly. It appears that the fund is really open to the crypto sector as a whole. It appears that from the filings, SkyBridge is looking to test the waters of many a digital asset regardless of how volatile it can be.
Information from one filing states that
“Investment Funds may invest in digital assets without restriction as to market capitalization or technological features or attributes (including lesser-known or novel digital assets known as ‘altcoins’) and may invest in initial coin offerings, which have historically been subject to fraud.”
This decision comes in the wake of many funds staking heavily on Cryptocurrencies. Many funds have even gone down the drain and others continue to scale. Let us keep our fingers crossed as we experience what comes of this.