Particle.news
Download on the App Store
4 ARTICLES
·
5h ago

SkyBridge to Tokenize $300 Million Across Two Funds on Avalanche

The firm plans to move roughly 10% of its assets into on-chain fund shares using Tokeny with Apex infrastructure.

Anthony Scaramucci, founder and CEO of SkyBridge Capital.
Scaramucci's skybridge capital to tokenize $300m in hedge funds on avalanche
SkyBridge Capital to tokenize $300m in hedge funds on Avalanche

Overview

  • Anthony Scaramucci said SkyBridge will convert portions of Digital Macro Master Fund Ltd and Legion Strategies Ltd into tokenized shares.
  • Issuance is planned on Avalanche via Tokeny using the ERC-3643 standard with operations supported by Apex Group’s Digital 3.0 platform.
  • The company characterized the move as an announced deployment rather than a live on-chain issuance.
  • One of the funds invests in cryptocurrencies not designated as securities by the SEC, according to SkyBridge’s disclosure.
  • Avalanche already hosts institutional products such as BlackRock’s BUIDL and Franklin’s BENJI, with reported on-chain totals ranging from about $188 million in RWA to roughly $2 billion in overall assets depending on the data source.