SkyBridge raises $100M for Algorand fund and files for crypto company ETF

Alternative investment firm SkyBridge capital hopes to expand its crypto offerings, filing for a crypto-focused exchange-traded fund (ETF) on Tuesday and revealing plans for an Algorand fund at this week’s SALT conference in New York.

Speaking to CNBC, SkyBridge founder and former White House Communications Director Anthony Scaramucci said the firm had raised more than $100 million toward the newly announced Algorand fund. According to him, the company currently has approximately $700 million in crypto assets.