SkyBridge’s Scaramucci files to launch bitcoin ETF with First Trust Advisors

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FILE PHOTO: New White House Communications Director Anthony Scaramucci stands during the daily White House briefing in Washington, U.S. July 21, 2017. REUTERS / Jonathan Ernst

NEW YORK (Reuters) – Former White House communications director Anthony Scaramucci has jumped into the fray for a bitcoin exchange-traded fund with his SkyBridge Capital which partners with First Trust Advisors, according to a file filed with the Securities and Exchange Commission.

According to the filing, the “First Trust SkyBridge Bitcoin ETF Trust” will seek to buy and sell bitcoin “so that the total value of bitcoin held by the Trust is as close to 100% of the Trust’s net assets as reasonably possible.” achievable to achieve.

Scaramucci founded SkyBridge in 2003 and returned to the company after the failure of a planned sale to Chinese conglomerate HNA Group in 2018. His stint at the White House lasted 11 days in 2017.

Earlier this year, SkyBridge Capital launched a bitcoin-focused fund after the cryptocurrency surged more than 300% in 2020. Bitcoin continued its rapid ascent this year to hit $ 61,781.83 earlier this year. this month.

Bitcoin has recently become more attractive to institutional investors, with hedge fund managers such as Paul Tudor Jones and Stanley Druckenmiller claiming that they include bitcoin in their general investment strategies.

A SkyBridge spokesperson declined to comment on the case.

Reporting by Chuck Mikolajczak; Editing by Alden Bentley and Dan Grebler

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