Founder of Tianqiao Capital: Launching a $200 million cryptocurrency fund in the UAE this week

Anthony Scaramucci, the former director of the White House Communications Office and the founder of Skybridge Capital, announced in an online interview with the foreign media "CNBC" on December 2 that it will officially launch a $200 million cryptocurrency fund in the UAE this week. The funds will consist of private equity and tokens.

Anthony Scaramucci first stated in an interview that Tianqiao Capital’s current total investment assets are approximately US$9 billion, of which US$1.3 billion belongs to the category of encrypted assets. He also revealed that the company is currently committed to creating a new product CPRT, a publicly tradable cryptocurrency ecosystem ETF.

Subsequently, Anthony Scaramucci announced that it will officially launch a $200 million cryptocurrency fund in Abu Dhabi, UAE this week, Beijing time. The fund will consist of private equity and tokens. However, he did not mention clear fund details and A clear listing date.

Anthony Scaramucci further stated that Skybridge Capital just listed an Algorand fund on December 1. Skybridge Capital’s team believes that Algorand has the potential to surpass Ethereum in the future because of Algorand’s faster speed, lower carbon footprint, and lower transaction costs. .

Flyover capital moves frequently

In order to seize the opportunity of cryptocurrency, Sky Bridge Capital has made frequent moves. The cryptocurrency exposure of Sky Bridge Multi-Adviser Hedge Fund Portfolios, Q3 Sky Bridge Capital's flagship fund, increased by 150% from the previous month to 485 million U.S. dollars.

In addition, as previously reported, on September 14 this year, Tianqiao Capital and the hedge fund First Trust Advisors jointly applied to the SEC to register the encryption industry and digital economy ETF, and it is expected to invest at least 80% of its net assets in encryption industry companies and digital economy companies. Common stocks and American Depository Receipts (ADR), the remaining part of the assets will be concentrated in the information technology and financial industry companies.

SkyBridge Capital is also one of the barriers of many cryptocurrency ETFs in the United States. It started the application as early as March this year, but it is still lying on the desk of the SEC awaiting trial.