In a filing registered with the United States Securities and Exchange Commission (SEC), giant global investment firm Skybridge Capital explained that the Skybridge G II fund can invest in digital currencies such as bitcoin. On November 13, the New York-based firm with $ 7.7 billion in assets under management (AUM) told the US regulator that Skybridge investment funds “could hold long and short positions in digital assets.”
Skybridge Capital, another well-known wealth manager with over $ 7.7 billion in AUM, told the SEC on Friday that it could invest in digital assets such as bitcoin. The SEC filing discusses the company’s overall assessment and includes an extensive summary of how Covid-19 is affecting the economy. Buried deep into the pages of certain assets, derivatives, ETFs, ETNs, and other investment vehicles, Skybridge notes that the G II Fund can enter the crypto economy through a myriad of angles.
Not only did the fund say it “could hold long and short positions in digital assets”, but Skybridge could also invest in other types of cryptocurrencies besides bitcoin (BTC). The filing also highlights that digital assets “could rapidly decline, even to zero”. Even so, Skybridge could invest in other areas of the cryptocurrency universe such as cryptocurrency companies.
“[Skybridge] and Investment Funds may also invest in securities of companies related, in whole or in part, to digital assets or digital asset technologies (including digital asset miners, payment technologies, digital security or cryptocurrency exchanges) or that they have in other way direct or indirect exchanges exposure to emerging technologies, “note the SEC documents.
Similarly, Skybridge tells the regulator that just as the chances of cryptocurrency prices drop to zero, some of the companies the fund invests in could be “rapidly eclipsed by newer and more disruptive technological advances.” Towards the end of the filing statements on digital assets, Skybridge tells the SEC that the company fully understands that the “regulatory landscape for digital assets is indefinite and rapidly developing.”
“The regulation of digital assets can vary significantly between non-US or US federal, state and local jurisdictions and is subject to significant uncertainty,” Skybridge’s statement details.
Skybridge Capital was founded in 2005 by Anthony Scaramucci, Brett S. Messing, Raymond Nolte and Troy Gaveski. Scaramucci recently discussed digital currencies in an interview and explained that when he returned to Skybridge in 2018, “[the company did] a deep dive into the space of digital resources “.
“I’m a fan”, explained Scaramucci. “I believe that digital assets have a future and obviously that blockchain has a future,” said the managing partner.
What do you think about the possibility that Skybridge could enter the cryptocurrency economy in the future? Let us know what you think about this topic in the comments section below.
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