The fund is starting out with $20 million in AUM, largely from family offices, and touts lower fees than the Grayscale Bitcoin Trust.
The fund aims to compete with Grayscale's Bitcoin Trust and others by offering a 50 basis point lower expense ratio.
BlockFi is the latest firm to go up against Grayscale's behemoth bitcoin trust.
The digital asset manager passed a key milestone this week.
“Bitcoin is digital gold,” SkyBridge said in its pitch to investors. “It is better at being gold than gold.”
Scaramucci said Skybridge is running a full bitcoin node.
Anthony Scaramucci's $9.2B hedge fund manager is launching its first bitcoin fund.
New York Digital Investments Group raised $150 million for two new funds to invest in cryptocurrencies, according to SEC filings.
Galaxy Digital's institutional bitcoin fund raised an average of $1.6 million from its 33 unnamed investors.
Formed in 2013, Pantera’s was the first U.S.-based bitcoin fund.
The CI Galaxy Bitcoin Fund has had a preliminary prospectus approved by Canadian securities regulators for an initial public offering.
The Toronto Stock Exchange also listed The Bitcoin Fund in April of this year.
Record fiscal stimulus has pushed wealthy investors to invest in Bitwise's bitcoin fund as a means to hedge against inflation.
The fund is the latest example of Wall Street veterans cozying up to bitcoin in their rhetoric and capital allocations.
Pantera has informed the SEC its crypto fund has received a total of $164.7 million from investors with portfolios worth over $5 million.