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SkyBridge investment firm, founded by former Goldman Sachs vice president Anthony Scaramucci, is one of the latest companies looking to invest in cryptocurrency.
The company is putting together a hedge fund that includes investments in Bitcoin (BTC), according to a United States Securities and Exchange Commission, or SEC, filed on Friday. The details of the prospectus:
“The Company may seek to gain investment exposure to certain Investment Funds or Investment Managers which may enter into derivative transactions, such as total return swaps, options and futures. Investments by the Company and / or the Investment Funds may also be made in companies that provide technologies relating to digital assets or other emerging technologies “.
After more than a decade of progress, several traditional businesses and individuals have kicked off a small but notable trend of entry into cryptocurrency investments, particularly Bitcoin. Billionaire Paul Tudor Jones amassed Bitcoin purchases earlier this year. He also recently described how soon the opportunity to invest is still feeling.
Despite SkyBridge’s interest, it still requires SEC approval before moving forward. The prospectus includes:
“Neither the Securities and Exchange Commission (the ‘SEC’), the Commodity Futures Trading Commission (the ‘CFTC’) or any other federal or state government agency or regulatory authority has approved or disapproved of an investment in these securities or provided the accuracy or adequacy of this Prospectus “.
The prospectus included a section describing “digital assets”, in which it briefly explained their uses, risks and other points of consideration. “Digital assets have no intrinsic value other than as a method of exchange and are not based on a tangible commodity, security, contractual right or legal obligation,” the document states.
“Digital asset values should not be expected to be linked or correlated to traditional economic or market forces, and the value of investment funds’ investments in digital assets could decline rapidly, even to zero,” says the prospectus after pointing out the “Tremendous price volatility” observed in cryptocurrencies against the norms shown in traditional investments.
Bitcoin has risen to significant levels in recent weeks and is currently within walking distance of its all-time high.
