SkyBridge enters Bitcoin market; unveils SkyBridge Bitcoin Fund LP

SkyBridge enters Bitcoin market; unveils SkyBridge Bitcoin Fund LP
  • The new product is expected to deliver institutional-quality custody and operation to its investors.
  • It would also provide investors an exposure to Bitcoin trading.

With the trend of Bitcoins and cryptocurrencies immensely rising worldwide, one of the leading global investment firms- SkyBridge Capital has recently announced launching a new fund offering, named SkyBridge Bitcoin Fund LP, for all its investors, which provides them with an institutional-grade vehicle to gain significant exposure to Bitcoin trade.

In addition to this, on behalf of its flagship funds, the company initiated a position, worth USD 130 million at the release time, in funds investing in BTC during November and December 2020.

It has been reported that to unveil the new product, Skybridge and its partners had invested USD 25.3 million. For the record, SkyBridge Capital enjoys the popularity of being amongst the most well-established financial institutions to launch a Bitcoin product, providing a secure an easy way to trade Bitcoins.

Moreover, the launch of this novel product would allow investors to have access to institutional-quality custody and operation, without compelling investors to directly hold Bitcoin.

Speaking on the launch, Founder and Managing Partner of SkyBridge- Anthony Scaramucci- cited that the company believes that Bitcoin is in its nascent stage as an exciting new asset class. He added that SkyBridge is firm on its belief that with the institutional quality custody solutions available today in the market, this is the right time to allocate capital and offer its clients the access to digital assets space.

Meanwhile, Troy Gayeski, Co-Chief Investment Officer and Senior Portfolio Manager at SkyBridge, states that the firm’s investment team is delighted to know about Bitcoin’s properties as a portfolio diversifier and return generator.

Commenting on the trust the investors have laid on the company, Gayeski reports that investors trust SkyBridge to see every aspect of cryptocurrency trading, and the firm believes that it would be important to allocate a small portion of the portfolio to digital assets at this time.

For the record, the SkyBridge Bitcoin Fund LP would charge a 75-basis point management fee allowing the accredited investors to subscribe directly to the fund.

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