Bloomberg Talks Anthony Scaramucci Talks Bitcoin ETF
May 12, 2025
Anthony Scaramucci, Founder and Managing Partner at Skybridge Capital, shares his insights on the surging popularity of Bitcoin ETFs. He unpacks the unique features of new cryptocurrency ETFs designed for those hesitant to invest directly in Bitcoin. Scaramucci discusses strategic investment choices through major companies like MicroStrategy and Coinbase, likening Bitcoin to gold and assessing its emerging role as an asset class. He also touches on the evolving crypto legislation landscape and its importance for the U.S. financial system.
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Bitcoin ETF as Surrogate Exposure
- SkyBridge created a Bitcoin thematic ETF as a good surrogate for direct Bitcoin ownership for clients still unable to access Bitcoin shares.
- The ETF tracks companies in the Bitcoin ecosystem offering exposure without direct asset ownership.
Bitcoin ETF Holdings Strategy
- The ETF holds US and international companies like MicroStrategy, Coinbase, Galaxy Digital, and MetaPlanet for Bitcoin ecosystem exposure.
- Currency exposure is modest but accepted to maintain strong Bitcoin correlation with limited outside risk.
Bitcoin's Evolution To Digital Gold
- Bitcoin's evolution from tech asset to digital gold depends on adoption growth and long-term holders increasing wallet numbers.
- More wallets and institutional involvement should dampen volatility and attract more long-term Bitcoin investors.