Episode 36 of Season 3 of The Scoop was recorded remotely with Frank Chaparro of The Block and Anthony Scaramucci of SkyBridge Capital.
Listen below and subscribe to The Scoop on Apple, Spotify, google play, Stapler or wherever you listen to podcasts. Email your comments and review requests to [email protected]
This episode is brought to you by our sponsors Eventus, Kraken and Exodus
Eventus is the world’s leading provider of multi-asset class trade monitoring, transaction monitoring and market risk management solutions. Eventus offers a powerful and award-winning business monitoring platform that is easy to deploy, customize and use. Eventus has a proven track record in the most complex, large, real-time environments and supports many of the industry’s leading crypto exchanges, including Coinbase, Gemini, ErisX, and OSL. The company’s rapidly growing customer base relies on Eventus’ responsive support and product development teams to overcome their most pressing regulatory challenges.
Whether you are an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With over 50 cryptocurrencies to choose from, industry-leading security, and a wide variety of features to suit any investment strategy, Kraken puts the power in your hands to buy, sell, and trade digital assets. Visit Kraken.com to start today.
Exodus leads the world outside of traditional finance by creating beautiful and user-friendly crypto products. Forget about having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides intricate details behind a beautiful and intuitive interface.
Anthony Scaramucci – the New York financier and former White House official – first jumped into the crypto fray late last year.
Now Scaramucci is all-in.
In the latest episode of The Scoop, the founder of Skybridge Capital guides listeners through his journey to bitcoin. Skybridge started investing in BTC at the end of last year.
“We have a full commitment to crypto,” he noted.
Since then, Skybridge has thrown its hat on the ring of exchange traded products and also plans to launch an ETF that has exposure to publicly traded cryptocurrency companies.
Indeed, Skybridge is one of the many American companies to enter the market with a bitcoin ETF. But the Securities and Exchange Commission has yet to give the green light for such a product, and the proposed ETF that is most advanced in the process – proposed by asset management firm VanEck – is now the subject of an additional comment period. Other companies, such as NYDIG, Fidelity and Cathie Wood’s ARK Invest, are among those pursuing bitcoin ETF launches.
Skybridge is also considering launching a private Ethereum fund.
“On July 1, we are launching an Ethereum private fund. We will then deposit an ETF for Ethereum. Again, anyone can guess when these things will happen,” he said.
“I can say – which is public information – that we have deposited an ETF linked to Bitcoin. We also have an ITU with a company in Wheaton, Ill. Called First Trust… as we speak, we are making an announcement on an ETF for a digital innovation fund that has excellent publicly traded assets that , in our opinion, are suitable relative to [Ethereum], linked to Bitcoin, but also to other coins. “
Scaramucci believes he can rely on his Wall Street chops for product adoption. He cited Morgan Stanley’s membership in SkyBridge’s digital asset portfolio as another example of Wall Street’s appetite for Bitcoin. “Morgan Stanley is a very big part of our business.”
Remaining firm on his bullish stance on Bitcoin’s valuation, Scaramucci told The Scoop:
“Here is what I think. I think we’ll be sitting here in a year, there will still be skeptics, there will still be people guarding the fences, but there will be a few more people in the pool with us and therefore the prices will be higher. And I just think that’s one of those weird assets where the higher the prices go, the more people are going to be drawn into the pool. “
© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.