Alternative investment firm SkyBridge Capital has launched SkyBridge Crypto Fund LP, which provides affluent mass investors with an institutional grade vehicle to gain exposure to Bitcoin, Ethereum, Polkadot, IPLF.
Additionally, on behalf of its flagship funds, SkyBridge initiated a position valued at around $ 450 million in funds investing in crypto in November and December 2020.
To launch SkyBridge Crypto Fund LP, SkyBridge and its affiliates invested $ 25.3 million. Fidelity will act as custodian and Ernst & Young will audit the fund.
“We think crypto is in its early days as an exciting new asset class, whatever coins we choose, we believe this is the future of crypto,” says Anthony Scaramucci, Founder and Managing Partner from SkyBridge. “With the institutional grade custody solutions available today, we believe now is the time to allocate capital and enable our clients to access the digital asset space. “
Despite the growing demand for digital retail currency, businesses on Wall Street have largely avoided the market due to security concerns. With the launch of SkyBridge Crypto Fund LP, investors will have access to institutional grade custody and trading, without forcing investors to directly own Crypto.
“Bitcoin is leading a digital currency revolution around the world, growth in crypto investments is still in its infancy
“said Brett Messing, President and COO of SkyBridge.” We believe the responsibility has shifted from “why are you investing in crypto?” to ‘how don’t you invest in crypto?’ “
In 2020, Crypto more than doubled its price and topped its 2017 market cap to a record high of over $ 500 billion. Today, a Bitcoin is valued at around $ 34,000.
“Our investment team has become excited about Crypto properties as a portfolio diversifier and yield generator,” says Troy Gayeski, SkyBridge Co-Chief Investment Officer and Senior Portfolio Manager. “Investors trust us to see the corners, and we believe it is now prudent to allocate a small portion of your portfolio to digital assets.”
SkyBridge Crypto Fund LP builds on the company’s long-standing commitment to making alternative investments accessible to a wider audience. Among its products, SkyBridge’s flagship G-Series fund offers modest minimum investment requirements to access major hedge fund managers.
“With global currency printing at an all time high, Crypto offers a solid alternative to gold as a store of value and as a hedge against future inflation,” says Ray Nolte, Co-Chief Investment Officer of SkyBridge and Senior Partner .
The SkyBridge Crypto Fund LP will charge a management fee of 75 basis points and no incentive fees. Accredited investors can subscribe directly to the fund, requiring a minimum investment of $ 50,000.