SkyBridge Capital, founded by Anthony Scaramucci, has formed a private Ethereum fund.
While its Bitcoin ETF application is being considered by the SEC, the financial firm will also apply for an Ether ETF.
A crypto-based ETF, according to the CEO, should have been introduced in the United States by now.
SkyBridge Capital, a hedge firm, has formed a private Ethereum fund and is planning to register for an Ether exchange-traded fund, according to reports (ETF).
Former White House Communications Director Anthony Scaramucci’s New York-based global investment firm had planned to launch a private Ethereum fund for its clients.
In a podcast this week, Scaramucci stated that the investing business started an Ethereum fund on July 1 and will file for an Ether ETF. SkyBridge Capital’s crypto development goals were discussed by the CEO, who stated:
We’re launching a private ether fund, or an ethereum fund, on July 1st. We’ll file for an ETF for ethereum, but when those things go live is anyone’s guess.
He did not provide any other information about the Ether ETF’s debut or filing.
The hedge fund applied for a digital innovation ETF earlier this week, according to the crypto investor, which includes publicly traded assets that support and are related to Bitcoin, Ethereum, and other crypto assets.
The New York-based firm is one of many high-profile firms that have applied to the SEC for a Bitcoin ETF. The hedge fund applied in March, and the Securities and Exchange Commission is presently reviewing it. So yet, no Bitcoin ETFs have been approved by the government in the country.
Scaramucci maintains that Bitcoin is digital gold, and that the US would have been more open and positive to the growth of the leading cryptocurrency and other DeFi aspects if the US had been more receptive and positive to the development of the leading cryptocurrency and other DeFi elements. He continued, ”
If you had asked me in May of last year, “When are we going to have an ETF?” I would have said by now.
While Scaramucci believes that not everyone will enter the crypto market, he believes that enough people will enter the market to drive asset prices higher. He elaborated:
I just think it’s one of those strange assets where the greater the price, the more people will flock to the pool.
SkyBridge will continue to build its existing crypto-related funds, according to the CEO./n
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