Anthony Scaramucci, the former White House communications director and hedge fund manager of SkyBridge Capital, said the majority of institutional investors are still reluctant to invest in crypto and blockchain technology in a Bloomberg interview.
- The founder of SkyBridge Capital said that crypto is dominated by around 10% of the financial-service community.
- “The institutions are not there … anybody who’s telling you there’s institutional adoption into this space is not being totally honest or they’re seeing something that I’m not seeing,” said Scaramucci.
- Scaramucci’s comments come as many mainstream banks and financial institutions have begun applying for and offering more crypto investments to their clients.
- The hedge fund manager also predicted that one of the big banks would eventually buy a Coinbase or a similar crypto start-up as decentralized finance continued to grow rapidly.
- In March, Scaramucci told CoinDesk TV more companies should be holding bitcoin on their balance sheet because the U.S. monetary supply was expanding so rapidly.
- Earlier this month, First Trust applied to the SEC to offer a new crypto exchange-traded fund that would be managed by SkyBridge Capital.