Anthony Scaramucci’s multi-billion-dollar hedge fund, SkyBridge Capital, has submitted a formal application with the United States securities regulator to launch a new Bitcoin (BTC) fund. 

The Form D for an exempt offering appeared on the Securities and Exchange Commission’s website on Monday. The proposal lists “SkyBridge Bitcoin Fund L.P.” as the issuer and “SkyBridge Bitcoin Fund GP LLC” as a related person.

According to the document, the proposed fund is classified as a “hedge fund.” SkyBridge declined to disclose the size of targeted investment, but the minimum from any individual investor will will be $50,000. 

The offering would take place under the SEC's Reg. D exemption, meaning that Skybridge's proposed Bitcoin fund would only be available to accredited investors.

The application was filed about six weeks after SkyBridge first informed the securities regulator of its intent to launch a Bitcoin-related hedge fund.

On Nov. 13, SkyBridge submitted a prospectus to the SEC, which states:

“Investment Funds may hold long and short positions in digital assets [...] The Company and Investment Funds may also invest in securities of companies related, in whole or in part, to digital assets or digital asset technologies (including digital asset miners, payment technologies, digital security, or crypto trading exchanges), or that otherwise have direct or indirect exposure to emerging technologies.”

Institutional and corporate uptake of Bitcoin has emerged as one of the biggest stories of 2020. Names like Paul Tudor Jones, Stanley Druckenmiller and Jim Camer have thrown their weight behind Bitcoin, while firms like MassMutual and Ruffer Investment Companies have also entered the market. On the corporate side, MicroStrategy, Square and Cypherpunk have all made substantial contributions to their balance sheets in recent months.

SkyBridge did not immediately respond to a request for comment.