Anthony Scaramucci outlines his new Bitcoin fund, discloses initial $25 million investment

The bitcoin fund founded by Anthony Scaramucci's SkyBridge Capital has invested some $25 million ahead of a planned public opening sometime next year.

In comments to CNBC, Scaramucci outlined the contours of the Bitcoin fund — the existence of which The Block reported Monday — and its potential appeal to would-be investors. 

“It became clear that we needed to create a client-friendly product, something with a $50,000 minimum, that the mass affluent could access, or RIAs that were close to it can access,” Scaramucci told the outlet.

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With more institutional interest in Bitcoin in global central banks, Scaramucci says the cryptocurrency will be a “very strong asset class over the next decade.” 

The filing for the new fund follows the week in which Bitcoin broke above $20,000 for the first time. As of press time, the cryptocurrency is trading at roughly $23,450 on Coinbase.

Scaramucci was asked if he thought it was "too late" to invest in Bitcoin given its recent price ramp.

“For us, I don’t think it’s late. If anything, it’s the first inning. You’re about to see that wave of early adoption by the institutional community. I’d like to get our investors involved before that goes into full throttle,” Scaramucci said.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.