Ethereum and fund investments
Hedge fund SkiBridge Capital has launched a private Ethereum fund and will soon reportedly apply for an exchange-traded Ether fund (ETF). A New York-based global investment company run by former White House communications director Anthony Scaramucci planned to launch a private Ethereum fund for own investors. Mr. Scaramucci confirmed in a blog post this week that the investment company launched the Ethereum fund on July 1 and will apply for an Ether ETF. The CEO spoke about plans to encrypt SkiBridge Capital and said the following: On July 1, we are launching a private ether fund, if you will, an ethereum fund.
The crypto investor said the hedge fund applied for a digital innovation ETF earlier this week that contains publicly traded assets that are supported and linked to Bitcoin, Ethereum, and other crypto-assets. The New York-based firm is one of many high-profile companies that have signed up for the Bitcoin ETF with the SEC. In March, the hedge fund has applied, and the securities regulator is currently considering the application.. So far, the agency has not approved any Bitcoin ETFs in the country. Scaramucci maintains that Bitcoin is digital gold and thought that the United States would be more receptive and respond quickly and positively to the rise of the leading cryptocurrency and other elements of DeFi.
According to a new JPMorgan report, the launch of the energy-efficient Ethereum 2.0 network will popularize the consensus mechanism on proving roles and make returns a more attractive source for institutional and retail investors. When Ethereum completes its transition from Proof of Work (PoV) to Proof of Share (PoS) next year, analysts expect payments to more than double to $ 20 billion. They predict that the yields in the entire block industry will double again to 40 billion dollars by 2025.
JP Morgan analysts find positive real yields of PoS coins, with any expected market price appreciation, attractive, writing: the stake not only reduces the opportunity cost of holding cryptocurrencies relative to other asset classes but in many cases cryptocurrencies pay significant nominal and actual yield. Proof of role coins is not the only cryptocurrency that JPMorgan takes seriously. The financial services giant is preparing to offer selected clients a Bitcoin fund. It could be launched this summer.
