Why Trillions in State Capital Are Waiting for U.S. Crypto Clarity

Bitcoin may already be catching the attention of the world’s largest state-backed investors, but according to SkyBridge Capital’s Anthony Scaramucci, the real floodgates won’t open until Washington provides regulatory certainty.

In a recent interview, Scaramucci hinted that sovereign wealth funds (SWFs) aren’t waiting on the sidelines entirely. Some are nibbling quietly, adding BTC exposure in small amounts. But without legislative clarity in the U.S., particularly around custody, stablecoins, and asset tokenization, the big money remains cautious.

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“Once regulations are in place,” he suggested, “we could see multi-billion-dollar buys from funds managing tens of trillions.” These funds, built from oil surpluses and trade reserves, hold vast influence—Norway and China alone manage over $3 trillion between them.

Scaramucci believes the tipping point could arrive if digital assets are officially recognized as financial infrastructure. Only then, he says, will Bitcoin be seen not just as a speculative asset, but as part of the future of finance.

His view aligns with that of ARK Invest’s Cathie Wood, who recently said the odds of Bitcoin reaching $1 million by 2030 have increased, thanks to growing institutional confidence in the asset class.

Alexander Stefanov