Anthony Scaramucci’s multi-billion-dollar hedge fund, SkyBridge Capital, has submitted a proper software with america securities regulator to launch a brand new Bitcoin (BTC) fund. 

The Kind D for an exempt providing appeared on the Securities and Change Fee’s web site on Monday. The proposal lists “SkyBridge Bitcoin Fund L.P.” because the issuer and “SkyBridge Bitcoin Fund GP LLC” as a associated individual.

In accordance with the doc, the proposed fund is assessed as a “hedge fund.” SkyBridge declined to reveal the scale of focused funding, however the minimal from any particular person investor will might be $50,000. 

The providing would happen beneath the SEC’s Reg. D exemption, that means that Skybridge’s proposed Bitcoin fund would solely be out there to accredited buyers.

The applying was filed about six weeks after SkyBridge first knowledgeable the securities regulator of its intent to launch a Bitcoin-related hedge fund.

On Nov. 13, SkyBridge submitted a prospectus to the SEC, which states:

“Funding Funds could maintain lengthy and brief positions in digital property […] The Firm and Funding Funds might also spend money on securities of firms associated, in entire or partially, to digital property or digital asset applied sciences (together with digital asset miners, fee applied sciences, digital safety, or crypto buying and selling exchanges), or that in any other case have direct or oblique publicity to rising applied sciences.”

Institutional and company uptake of Bitcoin has emerged as one of many largest tales of 2020. Names like Paul Tudor Jones, Stanley Druckenmiller and Jim Camer have thrown their weight behind Bitcoin, whereas corporations like MassMutual and Ruffer Funding Corporations have additionally entered the market. On the company facet, MicroStrategy, Sq. and Cypherpunk have all made substantial contributions to their steadiness sheets in current months.

SkyBridge didn’t instantly reply to a request for remark.