- SkyBridge Capital filed a Form D with the SEC today to register a Bitcoin Fund for accredited investors.
- SkyBridge Capital was founded in 2005 by former Trump press secretary Anthony Scaramucci, offering hedge fund investments and thought leadership.
- SkyBridge amended SEC documents in November to prepare for investments in digital assets.
Decrypt’s Art, Fashion, and Entertainment Hub.
SkyBridge Capital, the hedge fund founded by former White House Communications Director Anthony Scaramucci, today filed a Regulation D form for a Bitcoin Fund with the US Securities and Exchange Commission.
Should the SEC grant its blessing, the New York-based hedge fund, which manages $9.3 billion, shall offer accredited investors the chance to invest in a "SkyBridge Bitcoin Fund L.P." SkyBridge did not disclose further information about the fund and could not be reached by Decrypt by the time of publication.
The Form D form that SkyBridge filed today also declined to disclose the anticipated asset value of the fund and set the minimum investment at $50,000.
SkyBridge also registered the fund under Rule 506(c), an SEC exemption that allows the fund to be advertised so long as all purchases are verified by the issuer as accredited investors.
Accredited investors in the US are those with annual incomes of more than $200,000 in the previous two years, or who hold licenses required for investment professionals.
Skybridge telegraphed today’s fund registration in November when the investment firm updated SEC documents to allow the company to hold positions in digital assets. The updated prospectus authorized a broad set of investment targets including ‘altcoins’ and initial coin offerings.
However, the Form D filed today appears to be focused solely on Bitcoin. Scaramucci would serve as the executive officer of the fund.
Scaramucci founded SkyBridge in 2005. Alongside hedge fund services, Skybridge also offers real estate investment REIT products and has hosted its annual SkyBridge Alternatives (SALT) Conference since 2009.
In its filing, SkyBridge joins institutional Bitcoin investors like Grayscale and 3iQ. SkyBridge is one of several traditional investment firms that have expressed interest in Bitcoin. The most prominent example is MicroStrategy, which today completed a purchase that marks over $1 billion of Bitcoin investments this year.
As Decrypt previously reported, Scaramucci is a fan of Bitcoin. In August, he told Coinscrum Markets that his children are ready to buy their Teslas using Bitcoin.