SkyBridge Teams Up with Tokeny to Bring $300M Hedge Funds On-Chain via Avalanche
\SkyBridge Capital revealed plans to tokenize $300 million of its flagship hedge fund holdings on the Avalanche blockchain. The institution is partnering with Tokeny, recently acquired by the global financial service giant Apex Group, to bring this groundbreaking initiative to life. Apex Group oversees more than $3.5 trillion in assets.
“Tokenizing our funds on Avalanche, supported by the technology and operational infrastructure of Tokeny and Apex Group, represents a significant step forward in modernizing the alternative investment landscape,” said Anthony Scaramucci, Founder & CEO of SkyBridge Capital. “We look forward to bringing our hedge funds into the digital, on-chain era, improving transparency, liquidity, and accessibility for our investors,” he added.
What’s Being Tokenized
SkyBridge will digitize two of its key funds:
- Digital Macro Master Fund Ltd
- Legion Strategies Ltd
These funds will adopt the ERC-3643 token standard, with the full investment lifecycle managed through Apex Group’s “Digital 3.0” platform, covering everything from issuance and administration to distribution.
“This milestone shows how Apex Group and Tokeny are breaking down the operational and technology barriers that have historically slowed institutional tokenization. SkyBridge’s tokenization on Avalanche proves that with the right technology, trusted operators, and regulatory clarity, tokenization at scale is not just possible, it’s happening, “said Daniel Coheur, Global Head of Digital Assets at Apex Group and Co-Founder of Tokeny.
Strategic Rationale & Blockchain Choice
Tokenization is expected to significantly enhance liquidity, transparency, and accessibility for investors, marking a pivotal step in bridging traditional finance and blockchain systems. SkyBridge Capital plans to deploy its tokenized funds on Avalanche, a blockchain that boasts almost $2 billion in assets on its network, according to crypto analytics provider DefiLlama.
Avalanche was chosen for its institutional-grade speed, scalability, and near-instant finality—all crucial features for large-scale tokenization. As one of the leading blockchains for real-world assets (RWAs), Avalanche already supports tokenized money market funds, private credit products, and other institutional-grade offerings.
“Our work with Tokeny, Apex Group, and SkyBridge marks a pivotal moment for institutional adoption and serves as a powerful market signal that tokenization has entered the mainstream,”
said John Wu, President of Ava Labs.
“SkyBridge Capital’s leadership and network within the allocator community makes this a strong validation of Avalanche’s position as the premier platform for connecting capital.”
Tokenization Moves From Hype to Reality
SkyBridge’s initiative comes amid a broader surge in RWA tokenization. Firms like BlackRock, Franklin Templeton, and VanEck have already issued tokenized products, and the global RWA market has swelled past $26 billion in 2025, with forecasts placing it in the trillions by 2030.
The move highlights the convergence of technology, enterprise-grade infrastructure, and institutional credibility, pushing tokenization deeper into mainstream finance. Scaramucci told Fortune that the amount of money the firm plans to tokenize makes up about 10% of SkyBridge Capital’s assets under management. SkyBridge joins a growing list of global asset managers betting big on tokenized strategies.
The takeaway? Tokenization is no longer a pilot project—it’s becoming a core strategy for hedge funds and asset managers seeking liquidity, transparency, and new distribution models. SkyBridge’s move could be the spark that encourages more traditional funds to step into blockchain rails at scale.
