SkyBridge Capital, an investment company founded and led by Anthony Scaramucci, plans to tokenize its $300 million fund on the blockchain.
The company's move is seen as a new example of the rapidly growing trend of 'tokenization' in the crypto sector.
Tokenization enables the production of digital versions of traditional financial assets, such as treasury bonds, allowing them to be bought and sold on the blockchain just like Bitcoin or stablecoins. SkyBridge will launch its tokenized funds on the Avalanche (AVAX) network. According to DefiLlama data, Avalanche is currently reported to hold approximately $2 billion in assets.
Scaramucci said in an interview with Fortune, 'I see the period of 2026-2027 as the era of tokenization of real-world assets.' The total amount of funds to be tokenized by the company corresponds to about 10% of the assets under SkyBridge's management. One of these funds focuses on cryptocurrencies that are not classified as securities by the U.S. Securities and Exchange Commission (SEC). The other fund has a 'fund of funds' structure that encompasses various venture and crypto funds of SkyBridge.
Ava Labs President John Wu stated, 'We want to achieve two things: move traditional financial activities to the blockchain and show how this technology can benefit people with its cost advantages.'
Stay tuned for the latest developments