SkyBridge Capital, helmed by the ever-energetic Anthony Scaramucci, is poised to make waves in the finance sector by tokenizing a substantial $300 million chunk of its hedge funds on the Avalanche blockchain. This latest maneuver, unveiled on a Tuesday morning, signals a strategic alliance with Tokeny and its parent company, Apex Group—stewards of a staggering $3.5 trillion in assets. The venture promises to catapult SkyBridge’s Digital Macro Master Fund and Legion Strategies into the digital realm, embracing the burgeoning trend of bringing traditional financial assets onto the blockchain.
A New Era for Hedge Funds
The move to tokenize these funds is not just about keeping up with the Joneses in the finance world. It’s a calculated step into what many believe is the future of finance—where assets like bonds, stocks, and funds can be seamlessly transferred and recorded on blockchain networks. By adopting the ERC-3643 token standard, SkyBridge aims to enhance transparency, liquidity, and accessibility for its investors. “We look forward to bringing our hedge funds into the digital, on-chain era,” Scaramucci shared, emphasizing the synergy between traditional finance and the innovative potential of blockchain technology.
This initiative isn’t happening in a vacuum. The tokenization of real-world assets (RWA) is gaining traction globally, as financial behemoths explore ways to cut settlement times, boost transparency, and keep markets humming around the clock. The tokenized RWA market, which has already doubled in the past year to exceed $26 billion, is projected to soar into a trillion-dollar industry by 2030, according to various reports, including those from McKinsey and Ripple. For more on how institutions are standardizing on Ethereum, see our coverage of tokenized assets hitting a $270 billion record.
Avalanche’s Ascent
Avalanche, the blockchain network chosen by SkyBridge for this ambitious project, is increasingly positioning itself as a nexus for tokenized assets. Not just hedge funds—Bergen County, New Jersey, has already tapped into the network to digitize property deeds worth billions, combating fraud and slashing processing times. This growing adoption paints a picture of a blockchain ecosystem that’s not just surviving but thriving.
Tokeny, backed by Apex Group’s digital prowess, offers a robust platform for handling the issuance, administration, and distribution of these newly minted tokens. Apex’s Digital 3.0 platform plays a crucial role here, underscoring the sophistication and readiness of the infrastructure supporting this transition.
Riding the Tokenization Wave
SkyBridge’s decision aligns with broader industry movements. Other firms are diving into the tokenization pool, with VERT Capital tokenizing $1 billion in debt on the XDC network and unveiling a tokenized credit platform on the XRP Ledger. Meanwhile, Securitize is making waves by offering tokenized funds from high-profile names like Hamilton Lane, Apollo, and KKR. As seen with T-RIZE Group’s $RIZE Token now listed on Revolut, ushering in a new era for tokenized real-world assets, the momentum is building across the sector.
The buzz around tokenization is not without reason. It’s touted as a game-changer for asset management, promising efficiency and opening avenues for investment previously out of reach for many. But questions linger—can this trend sustain its momentum? Are traditional financial institutions ready to embrace blockchain wholeheartedly?
Looking Forward
As we stand on the cusp of this digital transformation, the implications are vast and varied. Will tokenization deliver on its promises of liquidity and accessibility? Can the market sustain its rapid growth amid regulatory scrutiny and technological challenges? These are the questions that market watchers and investors alike are pondering.
SkyBridge’s venture marks another step into the digital frontier, one that could redefine how we perceive and interact with financial assets. As the pieces fall into place, only time will tell if tokenization is the future of finance or just another fleeting trend. But for now, the momentum is undeniable, and the industry waits with bated breath to see how this experiment unfolds.
Source
This article is based on: Scaramucci’s Skybridge Capital to Tokenize $300M in Hedge Funds on Avalanche
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
