The multi-million dollar hedge fund of Anthony Scaramucci, SkyBridge Capital, has filed a formal application with the US Securities and Exchange Commission to set up a new Bitcoin (BTC) fund.
Form D for an exempt offer popped up on the Securities and Exchange Commission website on Monday. The proposal lists “SkyBridge Bitcoin Fund L.P.” as the issuer and “SkyBridge Bitcoin Fund GP LLC” as the connected person.
According to the document, The proposed fund is classified as a “hedge fund”. SkyBridge declined to disclose the size of the target investment. However, the minimum for each individual investor is $ 50,000.
The offer would be made under the SEC’s exemption for Reg. D, which means that Skybridge’s proposed Bitcoin fund would only be available to accredited investors.
The application was submitted about six weeks later SkyBridge will for the first time notify the Securities Commission of its intention to set up a Bitcoin-related hedge fund.
On November 13th, SkyBridge filed a prospectus with the SEC stating:
“Mutual funds can have long and short positions in digital assets […] The company and mutual funds may also invest in the securities of companies that are wholly or partially related to digital assets or digital asset technology (including digital asset miners, payment technologies, digital security exchanges, or cryptocurrency). or are otherwise exposed, directly or indirectly, to new technology. “
Bitcoin’s institutional and corporate adoption has become one of the biggest stories of 2020. Names like Paul Tudor Jones, Stanley Printmiller and Jim Camer have supported Bitcoin while businesses like it MassMutual and Ruffer investment companies They also entered the market. On the company side MicroStrategy, Square and Cypherpunk They have made significant contributions to their balance sheets over the past few months.
SkyBridge did not immediately respond to our request for comment.