Former White House director Anthony Scaramucci starts batting for Bitcoin

Anthony Scaramucci, Former White House communications director, has jumped into the fray for a bitcoin exchange-traded fund with his SkyBridge Capital joining forces with First Trust Advisors, a filing with the Securities and Exchange Commission indicates.

According to the filing, the First Trust SkyBridge Bitcoin ETF will seek to buy and sell bitcoin so that the total value of the bitcoin held by the Trust is as close to 100% of the net assets of the Trust as is reasonably practicable to achieve.

Scaramucci founded SkyBridge in 2003 and returned to the firm after a planned sale to Chinese conglomerate HNA Group which fell apart in 2018.

Earlier this year, SkyBridge Capital launched a bitcoin-focused fund after the crypto-currency surged more than 300% in 2020. Bitcoin has continued its rapid ascent this year to reach as high as $61,781.83 earlier this month.