Anthony Scaramucci’s SkyBridge Capital has announced plans to tokenize $300 million worth of assets on the Avalanche blockchain. The move is expected to expand the volume of real-world assets (RWA) traded on Avalanche by roughly 160%.

Scaramucci, a former Goldman Sachs fund manager, has long been a vocal Bitcoin advocate. In October 2023, when Bitcoin was trading under $30,000, he projected that BTC could eventually climb to $700,000.

According to a Fortune report, the initiative will cover two SkyBridge funds. One invests directly in cryptocurrencies like Bitcoin, which the SEC has not classified as securities. The second, a “fund of funds,” includes venture capital stakes and additional crypto assets. Together, they represent roughly 10% of SkyBridge’s $2 billion in assets under management, according to filings cited by AUM13F.

Scaramucci said at the Wyoming Blockchain Symposium on Tuesday that the key question is whether tokenization can outperform existing financial systems.

“The answer is yes. History shows that when better technology appears, society eventually adopts it, even with resistance.”

SkyBridge will partner with Luxembourg-based Tokeny, a specialist in digital securities, to carry out the transition. 

Avalanche, a layer-1 blockchain that secures nearly $1.9 billion in total value locked, has become a hub for real-world asset projects. Data from RWA.xyz shows the chain currently hosts $188 million in tokenized RWAs, ranking it 12th among blockchains.

Exclusive: Anthony Scaramucci’s SkyBridge Capital to tokenize $300 million on Avalanchehttps://t.co/na2oq2wZmw

Ava Labs President John Wu welcomed the SkyBridge move, saying, “We want to bring traditional finance on-chain while showing the world that blockchain can cut costs and increase efficiency.”

Avalanche’s native token, AVAX, trades around $22.50 at the reporting time. The blockchain’s focus on speed, low fees, and institutional partnerships makes it an attractive venue for firms seeking to digitize traditional assets.

AVAX fell more than 5% the previous day despite the positive developments.

His firm launched the SkyBridge Bitcoin Fund LP in 2020, after investing $182 million into the cryptocurrency. 

Despite SkyBridge’s previous ties to the now-bankrupt exchange FTX, Scaramucci remains committed to crypto innovation. 

He told Fortune that he views 2026 and 2027 as the “age of real-world tokenization.”

For Scaramucci, the $300 million move signals more than a tactical adjustment. It positions SkyBridge among traditional and crypto-native institutions racing to bring assets on-chain—from Treasurys to real estate. “This is the beginning of a new era,” he said.

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