Digital asset manager Skybridge Capital said Wednesday its Cryptocurrency Trust (OTCQX: CRYB) is open to accredited investors.the SkyBridge Crypto Fund LP, which provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin, Ethereum, Polkadot, IPLF.
Skybridge offers its various trusts for investors looking for exposure to cryptocurrencies like bitcoin BTC and ether ETH without the challenges of buying and storing the cryptocurrency directly.
ETH Price Eyes $1800 Riding on Skybridge Investment
Interestingly, the ETH price rally comes just as the Skybridge Cryptocurrency Trust (CRYB) buys ~25,000 Ethereum coins worth a massive $37.6 million, soon after resuming fresh investments. As per the data on Bybt.com, the latest purchase comes in just the last 12 hours with the CRYB total holdings surging to 2.96M ETH coins worth over $ billion.
Alternative investment firm SkyBridge Capital has launched of the SkyBridge Crypto Fund LP, which provides mass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin, Ethereum, Polkadot, IPLF.
Additionally, on behalf of its flagship funds, SkyBridge initiated a position, valued at approximately USD450 million in funds investing in crypto during November and December 2020.
To launch SkyBridge Crypto Fund LP, SkyBridge and its affiliates have invested USD25.3 million. Fidelity will serve as custodian, and Ernst & Young will audit the fund.