Scaramucci Says Most Institutional Investors Remain Hesitant to Invest in Crypto: Report

The hedge fund manager also predicted that a large bank will seek to buy Coinbase or a similar crypto start-up.

Sep 27, 2021 at 12:41 p.m. UTC
Updated Sep 27, 2021 at 1:32 p.m. UTC

Anthony Scaramucci, a former White House communications director and the hedge fund manager of SkyBridge Capital, said the majority of institutional investors are still reluctant to invest in crypto and blockchain technology.

  • The founder of SkyBridge Capital told Bloomberg that crypto is dominated by around 10% of the financial-service community.
  • “The institutions are not there … anybody who’s telling you there’s institutional adoption into this space is not being totally honest or they’re seeing something that I’m not seeing,” Scaramucci said.
  • Scaramucci’s comments come as many mainstream banks and financial institutions have begun applying for and offering more crypto investments to their clients.
  • The hedge fund manager also predicted that one of the big banks would eventually buy a Coinbase or a similar crypto start-up as decentralized finance continues to grow rapidly.
  • In March, Scaramucci told CoinDesk TV more companies should be holding bitcoin on their balance sheet because the U.S. monetary supply was expanding so rapidly.
  • Earlier this month, First Trust applied to the U.S. Securities and Exchange Commission to offer a crypto exchange-traded fund that would be managed by SkyBridge Capital.

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Tanzeel Akhtar is a CoinDesk news reporter based in Europe.