Anthony Scaramucci will tokenize US$300 million via Avalanche
- SkyBridge Asset Tokenization on the Avalanche Blockchain
- Anthony Scaramucci bets on the tokenization of cryptocurrencies
- SkyBridge invests in funds focused on bitcoin and crypto
SkyBridge Capital, led by Anthony Scaramucci, plans to tokenize approximately $300 million in assets using the Avalanche blockchain. The move represents approximately 10% of the firm's total assets under management and will be split into two separate funds.
The first fund has direct exposure to cryptocurrencies such as Bitcoin, while the second focuses on holdings in venture capital funds and investments in the cryptoasset sector. Both vehicles will be converted into digital tokens, following a growing trend in the traditional financial market and the cryptocurrency ecosystem.
Avalanche, a smart contract network known for its scalability, has become a popular choice for tokenizing real-world assets. Its technical framework allows for the creation of digital representations of physical or financial assets, such as stocks, real estate, and government bonds, enabling their trading in decentralized environments.
SkyBridge's initiative is part of a broader movement of financial institutions seeking to migrate traditional assets to public or private blockchains, optimizing liquidity, transparency, and operational efficiency. Frequently tokenized assets include private credit, mineral rights, Treasury bills, and publicly traded stocks.
Scaramucci, a former Goldman Sachs executive and current supporter of current U.S. President Donald Trump, has maintained a bullish stance on bitcoin since 2020. That year, SkyBridge invested approximately $182 million in BTC and launched the SkyBridge Bitcoin Fund LP, aimed at qualified investors.
Despite its past ties to the now-bankrupt FTX brokerage, the asset manager continues to expand its presence in the digital asset sector, reinforcing its commitment to tokenization as a strategic step for the future of investments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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