Bitcoin

Hedge

Anthony Scaramucci's SkyBridge Capital has restricted client withdrawals from its crypto-focused hedge fund, even though the fund's performance has improved significantly.
<h2 id="scaramucci-s-skybridge-limits-customer-exits-despite-crypto-ripple">Scaramucci's SkyBridge Limits Customer Exits Despite Crypto Ripple</h2>
Investors who own about 70% of the fund's shares had requested withdrawals during the last period ending in March, according to a regulatory filing.
However, the fund, which carried out the withdrawals through a tender offer, repurchased only about 7% of the requested shares.
While Scaramucci, 60, declined to comment, he has previously said the fund's structure allows him to limit withdrawals by working within the guidelines in the fund's prospectus.
SkyBridge began limiting withdrawals two years ago, during the “crypto winter” that saw significant losses and investor withdrawals.
Related News: <a href="https://en.bitcoinsistemi.com/the-famous-ceo-who-said-the-decline-in-bitcoin-is-temporary-gave-a-date-for-100-thousand-dollars/" target="_blank" rel="noopener noreferrer nofollow">The famous CEO, who said the decline in Bitcoin is temporary, gave a date for 100 thousand dollars!</a>
Cryptocurrencies have since rebounded, with Bitcoin rising nearly 150% in the 12 months ending March 31, with the SkyBridge fund posting a 46.4% gain. Despite this recovery, many customers remain eager to withdraw their investments.
Hedge funds often impose withdrawal limits, known as gates, to protect remaining investors from the impact of liquidating hard-to-sell investments or to preserve capital during periods of underperformance.
SkyBridge Co-Chief Investment Officer Brett Messing had capped investors in his previous fund, GPS Partners, after a significant decline in January 2008, but fewer than 20% of clients had requested withdrawals at the time.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/famous-investor-anthony-scaramucci-restricts-outflows-from-crypto-focused-hedge-funds/" rel="noopener noreferrer nofollow">Famous Investor Anthony Scaramucci Restricts Outflows from Crypto-Focused Hedge Funds!</a>

Famous Investor Anthony Scaramucci Restricts Outflows from Crypto-Focused Hedge Funds!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Jul 12, 2024

Crypto: XRP Reaches a New Milestone Towards Institutional Recognition!

Bipartisan US senators renew push to ban stock trading for Congress

TRON Founder Justin Sun Addresses $69,000 Bitcoin Long Rumors

Hamster Kombat plans two airdrops: one this month, another in 2 years – report

How Hamster Kombat Propelled Telegram into a Web3 Gaming Powerhouse

Biden Press Conference Highlight: Retiring Is Not The Plan, Says President

Join our free newsletter for daily crypto updates!