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Anthony Scaramucci's SkyBridge Files to Launch Crypto Industry and Digital Economy ETF

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Tue, 09/14/2021 - 16:35
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Alex Dovbnya
SkyBridge wants to launch an ETF that will invest in crypto and digital economy companies
Anthony Scaramucci's SkyBridge Files to Launch Crypto Industry and Digital Economy ETF
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SkyBridge Capital, the global investment firm spearheaded by former White House communications director Anthony Scaramucci, has filed to launch a new crypto-focused exchange-traded fund.

First Trust SkyBridge Crypto Industry and Digital Economy ETF will invest at least 80 percent of its net assets in crypto industry companies and digital economy companies.

The remaining share of the assets will be put into the shares of the companies within the financial industry and the information technology industry.  

The fund won’t have any direct or indirect exposure to cryptocurrencies of the likes of Bitcoin and Ethereum.

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On May 6, SkyBridge Capital filed an amended prospectus for a Bitcoin ETF. The U.S. Securities and Exchange Commission postponed its decision on the proposal in July.

After launching a private Ether fund, Scaramucci said that the firm would also file for an ETF that tracks the value of the second-largest cryptocurrency.

It’s not clear whether SkyBridge Capital still intends to go with the plan after two Ether ETF proposals were suddenly withdrawn in late August.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.