Another investment firm is putting funds on the blockchain. Anthony Scaramucci, founder and managing partner of SkyBridge Capital, announced Tuesday that his company plans to hold around $300 million from two funds in the form of tokenized assets. SkyBridge’s move comes amid a wave of enthusiasm for what the crypto industry calls tokenization. The process entails creating digital token versions of real-world assets like Treasury bills, which can be easily traded on a blockchain in the same way as Bitcoin or stablecoins.
“I’m basically seeing 2026 into 2027 as the age of real-world tokenization,” Scaramucci, a former Goldman Sachs executive who had a brief stint at the White House during President Donald Trump’s first term, told Fortune.
SkyBridge Capital plans to deploy its tokenized funds on Avalanche, a blockchain that boasts almost $2 billion in assets on its network, according to crypto analytics provider DefiLlama.
The amount of money that SkyBridge will deploy is about 10% of his firm’s assets under management, Scaramucci told Fortune. One of the two funds he’s tokenizing specializes in investments in cryptocurrencies like Bitcoin that have not been deemed securities by the Securities and Exchange Commission, according to SkyBridge’s most recent investor disclosure. The other is a fund of funds composed of SkyBridge’s other investment vehicles, including both its venture and crypto funds.
Advocates say issuing products like investment funds on decentralized networks can reduce transaction fees and cut out middlemen. Traditionally, there are a series of individuals between the buyers and sellers of financial assets, each of whom has to vet and evaluate the origin of, say, a stake in a fund—even if that fund is made up of cryptocurrencies already on blockchains. Each of these middlemen can charge fees and slow the process down.
Blockchains are decentralized databases, meaning that no one party can tamper with the information stored on the network. Hence, there theoretically does not need to be a middleman to verify the owner and authenticity of a financial asset issued on it. Users can look up the details themselves.
While proponents have lauded the virtues of tokenization for some time, the business of putting real-world assets on blockchains is still nascent, though it appears to be gaining momentum. Financial heavyweights like BlackRock, Franklin Templeton, and VanEck have recently issued their own money-market funds onto a series of blockchains like Solana and Aptos. Eventually, advocates envision a world where investors can buy and transfer their stakes in various funds without having to wade through spreadsheets or repeated calls to banks to wire money.
SkyBridge Capital plans to partner with Tokeny, a company that specializes in tokenization, to put its funds on Avalanche.
“Ultimately, we want to achieve two things,” said John Wu, the president of Ava Labs, one of the main developers behind the Avalanche network. “One is to bring activity on chain from the traditional finance world and also show the world that this technology can benefit them in terms of cost savings.”
