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Scaramucci Sees Institutional Investors Sitting Out Crypto Craze

  • About 10% of financial services in blockchain ‘feeding frenzy’
  • SkyBridge founder sees potential for big-bank M&A in crypto
Anthony Scaramucci

Anthony Scaramucci

Photographer: Christopher Goodney/Bloomberg

Headlines aside, the vast majority of money managers remain hesitant about cryptocurrencies and blockchain technology, according to SkyBridge Capital founder and noted crypto booster Anthony Scaramucci.

The new asset class is dominated by what Scaramucci estimates to be about 10% of the financial-service community, he said in an interview Wednesday, calling it a “feeding frenzy” that reminded him of the 1990s dot-com boom.