SkyBridge Capital has applied to launch ETF on shares of cryptocurrency companies

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Anthony Scaramucci’s investment company, SkyBridge Capital, is trying to register ETFs on shares of cryptocurrency firms and has created a $ 250 million Algorand Fund.

SkyBridge Capital wants to add a fund called First Trust SkyBridge Crypto Industry and Digital Economy ETF to the NYSE Arca listing, according to a filing with the US Securities and Exchange Commission (SEC).

If approved, the fund will invest at least 80% of its net assets in common stocks and American depositary receipts of companies in the cryptocurrency industry and companies in the digital economy. Under normal market conditions, a fund invests at least 50% of its net assets in cryptocurrency firms.

The rest of the fund’s net assets will be invested in digital economy companies. According to the filing, the fund will not invest directly or indirectly in digital assets, including bitcoin and other cryptocurrencies. Anthony Scaramucci also announced the creation of the Algorand Fud during the SALT online conference.

“SkyBridge now has about $ 700 million in cryptocurrencies,” Scaramucci said in an interview with CNBC on Wednesday. “We’re launching the Alogrand fund … we’re caping this fund to $ 250 million and we’ve already raised $ 100 million for it.”

Recall that in March, SkyBridge Capital and First Advisors filed a joint application with the SEC to launch an exchange-traded fund (ETF) for Bitcoin.

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