SkyBridge Capital’s Ethereum fund has officially launched with a solitary investor committing $5.7 million to the vehicle in its first week, new regulatory documents show.
Scaramucci previewed the fund’s existence on a recent podcast by The Block but declined at the time to elaborate. The new documents reviewed by CoinDesk add some detail.
Private funds allow wealthy investors access to crypto price movement without having to think about issues like custody, settlement and trading.
It is not clear who the one investor is, but Scaramucci has seeded similar vehicles with his firm’s cash. His office did not immediately comment on the filing. First Trust did not immediately respond either.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.