Anthony Scaramucci’s SkyBridge Capital, a global investment company known for alternative investments, is bringing assets worth $300 million to tokenize on the Avalanche blockchain — a move that would boost Avalanche's tokenized assets by nearly 160%.
According to a report from Fortune, SkyBridge Capital will tokenize two funds: one exclusively composed of cryptocurrencies like Bitcoin (BTC) and a “fund of funds” that includes both venture and crypto assets. SkyBridge is partnering with Tokeny, a company specializing in tokenizing institutional holdings.
At the Wyoming Blockchain Symposium on Tuesday, Scaramucci said the key question around tokenization is whether it can outperform current systems by enabling faster, cheaper and more secure transactions.
And I think the answer to those questions [is] ‘Yes,’ and I think throughout history, any time that the technology is better, we typically adopt it, even if there’s some resistance.”
Avalanche, a layer-1 blockchain that houses the native Avalanche (AVAX) token, has $1.9 billion in total value locked at this writing, according to DefiLlama. The blockchain has $188 million in real-world asset (RWA) tokenization value, according to RWA.xyz, ranking 12th among all blockchains.
Scaramucci founded SkyBridge Capital in 2005 and briefly served as director of communications for the first Trump administration. The firm has $2 billion in assets under management, according to AUM13F.
Traditional asset managers enter RWA tokenization fray
RWA tokenization is the process of turning real-world assets, such as bonds, real estate or funds, into digital tokens that can be traded on a blockchain.
The sector has become a trend in the crypto space this year. Traditional asset managers like BlackRock and Franklin Templeton have taken to this innovation, driven by the promises of reduced intermediaries, increased transparency and greater accessibility for investors.
According to RWA.xyz, the two most significant blocks of tokenized real-world assets are private credit and US Treasurys. On Monday, the tokenized private credit market was valued at $15.5 billion, and the tokenized US Treasurys market was worth $7.3 billion. All told, tokenized private credit accounts for 58.8% of the $26.4 billion RWA tokenization market, while tokenized US Treasurys accounts for 27.7%.
While still small compared to the overall crypto market, the RWA tokenization market has grown significantly in 2025. On Dec. 30, 2024, the market was valued at $15.8 billion. With its jump to $26.4 billion on Monday, the market has grown 64.7%.
BlackRock’s BUIDL fund, Franklin Templeton’s BENJI, Ondo’s various funds, and WisdomTree’s WTGXX indicate the traditional finance appetite for this crypto sector.
Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs — Inside story
