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While institutions choose Bitcoin, Ethereum might be the best choice

Photo of: Joseph Stone
by Joseph Stone

SkyBridge Capital currently favors Bitcoin through the Bitcoin Fund LP. The crypto asset is favored by institutional investors. However, Ethereum has “good fundamentals” and is set to grow.

Between Bitcoin and Ethereum, which one to choose? To date, SkyBridge Capital has focused solely on Bitcoin. Its Bitcoin Fund LP holds over $600 million on behalf of its clients.

The investment company also wants to offer a Bitcoin ETF in the future. It filed an application with the SEC for this purpose a few weeks ago. However, it should not be concluded that only BTC has what it takes to attract investors.

For the founder of SkyBridge Capital, Anthony Scaramucci, it is indeed the cryptocurrency as a whole that represents the future. As for Bitcon, it is “the ultimate predator” in this field.

“I tell my clients that, like it or not, the world is moving towards digitization,” he adds to CNBC, however. And the crypto-sphere no doubt has other would-be predators, including Ethereum.

If SkyBridge Capital is focusing on Bitcoin for now, it’s probably primarily to meet the demand of its clients. Scaramucci is therefore also interested in the potential of Ethereum, which is booming.

“I predicted that Ethereum had good fundamentals and would grow, but I’m in an institutionalist business in a way. I think like an institutionalist, and I have to get my clients to think about cryptocurrencies and digital assets,” he responds.

And to develop this crypto thinking among these clients, Bitcoin is now the spearhead. Once its adoption is democratized, Ethereum could therefore occupy a place equivalent to BTC among institutions.

“The technology surrounding Ethereum is going to make it a preeminent cryptocurrency and store of value, with which people will transact,” Anthony Scaramucci argues besides.

Despite his enthusiasm for cryptocurrencies, however, the financier does not go so far as to advocate an excessive allocation in their favor. 20% of a portfolio? Certainly not, he excludes.

From 1 to 3%, this is according to him the ideal allocation for investors. “If they have a position of 1, 2 or 3%, they will consider us as trustees and think they have been very well served,” confides the executive to CNBC.