SkyBridge Capital to Tokenize $300 Million in Hedge Funds on Avalanche Blockchain

SkyBridge Capital will tokenize $300 million of its flagship hedge funds on the Avalanche blockchain, marking one of the largest traditional finance tokenization initiatives as institutional adoption of digital infrastructure accelerates.

The New York-based investment firm, led by former Goldman Sachs executive and White House Communications director Anthony Scaramucci, will work with Tokeny, a tokenization platform recently acquired by global financial services provider Apex Group, to bring two funds onto blockchain rails, according to an announcement on Tuesday.

SkyBridge plans to tokenize its Digital Macro Master Fund and Legion Strategies Fund using the ERC-3643 token standard, which enables compliant securities tokenization. The initiative will leverage Apex Group's Digital 3.0 platform, which provides integrated capabilities for fund creation, issuance, administration, and distribution on blockchain infrastructure.

"Tokenizing our funds on Avalanche represents a significant step forward in modernizing the alternative investment landscape," Scaramucci said, emphasizing the potential for improved transparency, liquidity, and accessibility for investors.

The move reflects growing institutional interest in blockchain-based fund structures that can reduce operational costs, enable programmable compliance, and provide new distribution channels. Traditional asset managers have increasingly explored tokenization as a way to modernize legacy infrastructure and attract tech-savvy institutional investors.

Avalanche was selected for its institutional-grade architecture and transaction speed requirements for large-scale tokenization, the announcement said.

"SkyBridge's tokenization on Avalanche proves that with the right technology, trusted operators, and regulatory clarity, tokenization at scale is not just possible, it's happening," said Daniel Coheur, global head of digital assets at Apex Group and co-founder of Tokeny.

Apex Group, which services over $3.5 trillion in assets globally, acquired Tokeny in May 2025 as part of its strategy to provide blockchain infrastructure for institutional clients seeking to tokenize traditional investment products. The combination provides the operational infrastructure and regulatory compliance capabilities necessary for institutional adoption.

The initiative comes as the tokenized asset market gains momentum, with major financial institutions exploring blockchain-based alternatives to traditional fund structures.

John Wu, president of Ava Labs, called the collaboration "a pivotal moment for institutional adoption" that validates Avalanche's position in the growing real-world asset tokenization market.