Single Buyer Apes Into Mooch's ETH Fund for $5.7M, Docs Show

Anthony Scaramucci’s SkyBridge Capital has launched its second crypto-specific private fund. One buyer has committed funds so far.

AccessTimeIconJul 9, 2021 at 7:12 p.m. UTC
Updated May 15, 2023 at 1:44 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

SkyBridge Capital’s Ethereum fund has officially launched with a solitary investor committing $5.7 million to the vehicle in its first week, new regulatory documents show.

It is now the second crypto-specific private fund offered by Anthony Scaramucci’s investment firm. The other, a bitcoin vehicle, disclosed $46.7 million in sales to 170 investors on Friday.

Scaramucci previewed the fund’s existence on a recent podcast by The Block but declined at the time to elaborate. The new documents reviewed by CoinDesk add some detail.

The fund, named First Trust SkyBridge Ethereum Fund L.P., indicates SkyBridge is deepening its relationship with First Trust, the partner firm in its bid to land a bitcoin exchange-traded fund. The ETH fund takes $25,000 minimum investments and notched its first and only sale on July 1.

Private funds allow wealthy investors access to crypto price movement without having to think about issues like custody, settlement and trading. 

It is not clear who the one investor is, but Scaramucci has seeded similar vehicles with his firm’s cash. His office did not immediately comment on the filing. First Trust did not immediately respond either.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.