© Reuters. Anthony Scaramucci Shares Strategy for Bitcoin ETF
U.Today – Anthony Scaramucci, founder and CEO of SkyBridge Capital, stated on Thursday that the SEC's approval of the first spot exchange-traded funds should be considered a watershed moment for Bitcoin.
Speaking to CNBC, Scaramucci reveals his Bitcoin ETF strategy, indicating his intention to purchase a US Bitcoin ETF now that it has been approved.
The United States Securities and Exchange Commission (SEC) on Wednesday adopted rule changes that will allow the launch of Bitcoin ETFs in the United States.
“I will be, yes. I will be a ceremonial buyer,” Scaramucci responded when asked if he would buy Bitcoin ETFs.
The CEO of Skybridge Capital also stated that his New York-based hedge fund unexpectedly experienced its best year in 2023 after “incrementally buying” Bitcoin, and.
Bitcoin was trading up 7% at $48,118 at press time, according to CoinMarketCap, and the SEC's decision has many analysts optimistic about the newly unlocked potential for massive gains.
Scaramucci, who expresses bullish expectations for 2024, believes Bitcoin could reach its all-time high by the end of the year and will likely surpass it by this time next year.
Bitcoin reached its current all-time high of almost $69,000 in November 2021.
Bitcoin “now public good”
As the company launches its first Bitcoin exchange-traded fund, Ark Invest President and COO Tom Staudt believes Bitcoin is now a “public good” that all investors should have access to.
The new Ark Invest ETF from Cathie Wood and her partner 21Shares will have a 0.21% fee, making it one of the most affordable products on the newly created market.
The ARK 21Shares Bitcoin ETF, along with the Bitwise Bitcoin ETF, the Fidelity Wise Origin Bitcoin Trust, the WisdomTree Bitcoin Fund, the Invesco Galaxy Bitcoin ETF, and the Valkyrie Bitcoin Fund, comprise the six initially waived fees. Only Bitwise's offering will be less expensive for investors, with fees starting at 0.2%.
This article was originally published on U.Today.
