SkyBridge launches bitcoin fund
The number of institutional investors who want a piece of the Bitcoin pie is growing. Now, SkyBridge, a well-known expert in investment funds, is joining them.
According to a press release, crypto funds are growing again. SkyBridge Capital, one of the world’s leading alternative investment companies, is responsible for this. It has just launched its SkyBridge Bitcoin Fund LP, which offers wealthy Bitcoin Era investors an institutional investment vehicle for an exposure to Bitcoin. BTC-ECHO had already reported before the holidays on a corresponding application by SkyBridge to the US Securities and Exchange Commission (SEC).
In addition, SkyBridge has already invested a position in a Bitcoin fund as part of its flagship funds. The latter is valued at around US$310 million at the time of going to press.
To launch SkyBridge Bitcoin Fund LP, SkyBridge and its partners have invested a total of US$25.3 million. This makes SkyBridge one of the most established financial institutions to launch a Bitcoin product, offering a safe and easy way to buy and sell Bitcoin. Fidelity could be won as custodian bank. Ernst & Young will act as the audit firm.
We believe that Bitcoin is in its infancy as an exciting new asset class. With institutional-quality custody solutions available today, we believe the time is right to allocate capital and offer our clients access to the digital asset space.
said SkyBridge founder and managing partner Anthony Scaramucci. Brett Messing, SkyBridge’s president and chief operating officer, puts it succinctly:
Bitcoin is leading a digital currency revolution around the world. People used to ask, ‚Why are you investing in Bitcoin?’By now, the question should be, ‚Why aren’t you investing in Bitcoin?‘
SkyBridge is among a host of institutional crypto investors
The new SkyBridge Bitcoin Fund LP continues the firm’s longstanding commitment to bringing alternative investments to a wider audience. For example, the portfolio includes the flagship Series G fund. It makes it possible to gain access to leading hedge funds even with comparatively moderate investment amounts.
Of course, SkyBridge is not alone in its ambitions. Several institutional investors have become active in the crypto market and have thus contributed to the ongoing Bitcoin price increase. For example, the investment company Guggenheim Partners announced at the end of November that it would invest up to 500 million US dollars from its Macro Opportunities Fund in Bitcoin. For this purpose, they have chosen the currently largest Bitcoin fund of all, the Grayscale Bitcoin Trust. Its equivalent value is currently 10 billion US dollars, with an upward trend in the current price trend.