SkyBridge Capital to launch 200 million USD crypto fund from Abu Dhabi UAE

Scaramucci stated that SkyBridge’s total invested assets, are currently around $ 9 billion, with 1.3 billion USD of that in the crypto asset class. Scaramucci said the company’s exchange-traded product CRPT, a publicly traded crypto ecosystem ETF, is another reason the fund has seen massive spending in recent months.

He then added that SkyBridge will be going to Abu Dhabi next week to launch a $200 million cryptocurrency fund, that would have some components of private equity and some components of coins. UAE recently witnessed the launch of a 200 million Bitcoin Fund out of Dubai UAE.

He noted that SkyBridge launched a 100 million USD Algorand Fund, as SkyBridge team believes it has the potential to flip Ethereum because it is faster, net negative carbon footprint, with lower transaction fees. In his own words, he stated, “Algorand is something that we invest a lot of money and resources in.“

Even in the UAE blockchain funds have been launched. The UAE BASED Digital Finance Group had launched a 20 million USD fund for Polkadot, while some UAE crypto funds have invested in gaming.