Inside Anthony Scaramucci’s bitcoin ether ETF game plan

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Episode 36 of Season 3 of The Scoop was recorded remotely with Frank Chaparro of The Block and Anthony Scaramucci of SkyBridge Capital.

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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.

Scaramucci added:

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.

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