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Anthony Scaramucci – the former director of communications for the White House says he’d be a “ceremonial buyer” of the Bitcoin ETF.

Last night, the Securities & Exchange Commission finally approved applications for a Spot Bitcoin ETF – a development that the hedge fund manager sees as a watershed moment for BTC.

I think it is a much broader story for digital property in general … this is incredibly meaningful.

Scaramucci made that comment as he spoke with CNBC in St. Mortiz. Bitcoin – the world’s largest cryptocurrency by market cap is headed towards the $50,000 level at writing.

And the founder and chief executive of SkyBridge Capital is convinced that it will print a new high over the next twelve months.

$TET is the solution!

“Bitcoin ETFs have started dropping their declared fees to be regarded as the lowest fee ETF providers.

Black Rock are offering starting fees of 0.2%.

Given the rising network fees of Bitcoin, if ETFs are to make money these low fees are unsustainable.… https://t.co/q3NEhOxV2k pic.twitter.com/XVYH7WEzFT

Anthony Scaramucci agreed that his New York-based hedge fund had a brutal 2022. But “incrementally buying” bitcoin and ethereum last year delivered bumper returns.

The financier is bullish on the cryptocurrency because “in a weird way” the Securities & Exchange Commission is now “endorsing bitcoin as it has allowed it to be offered to retail investors”.

A Spot Bitcoin ETF is a big deal because it’s expected to invite institutional money into the crypto market.

Also on Thursday, Cathie Wood – the founder and chief executive of Ark Invest reiterated her bull case for Bitcoin to hit $1.5 million by the end of this decade. Even her base case sees the cryptocurrency at $600,000 in the coming years.

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