Anthony Scaramucci’s SkyBridge Capital is tokenizing $300 million of its hedge fund assets on the Avalanche blockchain, representing about 10% of its $2 billion assets under management.
The initiative involves two funds: the Digital Macro Master Fund Ltd, focused on cryptocurrencies like Bitcoin (not classified as securities by the SEC), and Legion Strategies Ltd, a “fund of funds” comprising venture and crypto assets.
SkyBridge is partnering with Tokeny, a tokenization platform recently acquired by Apex Group, to execute this using the ERC-3643 standard and Apex’s Digital 3.0 platform. This move aims to enhance liquidity, transparency, and efficiency in asset management, aligning with a broader trend among traditional finance firms like BlackRock and Franklin Templeton embracing blockchain technology.
Scaramucci predicts 2026–2027 as the “age of real-world tokenization,” with Avalanche’s scalability and low-cost infrastructure making it a preferred choice. This could boost Avalanche’s tokenized real-world assets from $188 million to $488 million, a 160% increase.
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SkyBridge’s move signals growing acceptance of blockchain technology by traditional finance (TradFi) giants. High-profile firms like SkyBridge, alongside BlackRock and Franklin Templeton, embracing tokenization validates the technology, encouraging other institutions to follow suit.
The tokenization increases Avalanche’s total tokenized RWA value by 160% (from $188M to $488M), strengthening its position as a leading blockchain for asset tokenization. Enhanced activity on Avalanche could drive demand for its native token (AVAX), potentially increasing its market value and network usage.
Tokenized funds enable fractional ownership, allowing smaller investors to access high-value assets traditionally reserved for institutional or high-net-worth individuals. This democratizes investment opportunities and expands market participation.
Increased liquidity of tokenized assets could attract more DeFi protocols and users, fostering a more robust onchain economy. SkyBridge’s focus on tokenizing non-security assets like Bitcoin avoids immediate SEC scrutiny, potentially setting a model for other firms to navigate regulatory frameworks while integrating with blockchain.
Successful execution could push regulators to clarify rules around tokenized assets, fostering a more supportive environment for onchain innovation. Avalanche’s selection for its low-cost, scalable infrastructure highlights its technical advantages, potentially drawing more projects to the platform.
Benefits of Tokenized Assets for the Onchain Economy
Tokenized assets can be traded 24/7 on decentralized exchanges (DEXs) or integrated into DeFi protocols, enabling faster and more efficient transactions compared to traditional markets with limited trading hours.
Fractionalization allows smaller portions of high-value assets to be traded, increasing market depth and accessibility. Blockchain’s immutable ledger ensures transparent tracking of ownership, transactions, and asset performance, reducing reliance on intermediaries and enhancing investor trust.
Smart contracts automate processes like dividend distribution or compliance checks, reducing operational risks and costs. Tokenized assets can be used as collateral in DeFi protocols for lending, borrowing, or yield farming, creating new revenue streams for investors and increasing capital efficiency.
Integration with DeFi expands use cases, such as staking tokenized assets or incorporating them into liquidity pools, driving onchain economic activity. Tokenization eliminates intermediaries like custodians or brokers, lowering transaction and management fees.
Avalanche’s low-cost transactions (compared to Ethereum) make it economically viable to tokenize and trade assets, benefiting both issuers and investors. Tokenized assets can be accessed globally via blockchain, enabling investors from underserved regions to participate in high-value markets, growing the onchain economy’s user base.
Tokenized assets can be programmed with smart contracts to include features like automated compliance, profit-sharing, or governance rights, enhancing their utility. This programmability fosters innovation, enabling new financial products and services that drive onchain economic growth.
As more assets are tokenized, network effects amplify. Increased onchain activity attracts developers, protocols, and users, creating a virtuous cycle of growth. SkyBridge’s move could pressure competitors to adopt tokenization, accelerating the shift of traditional finance to blockchain-based systems.