Following speculation as a series of filings with the Securities and Exchange Commission (SEC) circulated online, Anthony Scaramucci on Tuesday confirmed in an interview on CNBC that his firm SkyBridge Capital has launched a fund tailored to clients looking for exposure to Bitcoin.

With a minimum investment of $50,000, Scaramucci shared the fund is targeting a mass affluent clientele, adding that "this will be a way for us to democratize Bitcoin, like we did the hedge fund industry a decade ago."

The fund shows a number of similarities to Grayscale's Bitcoin Trust. While Scaramucci said he isn't looking to "knock" Grayscale, he also added, "sometimes Grayscale gets as high as a 30 percent premium to where the underlying currency is trading, and we’re really trying to avoid that for clients."

According to Scaramucci, Skybridge's fund will trade at the net asset value.

The fund deployment follows two years of research by Skybridge, including conversations with early adopters such as Michael Saylor, who Scaramucci said he was "developing a very close relationship with."

While he admitted he would have "loved" to deploy the fund three to four months earlier, he also believes that Bitcoin is still "in the very early innings."

You either have to accept that Bitcoin is a store of value, or not. There are still skeptics out there. And that’s why I think we’re in the first inning. But after doing the research we’ve done, we believe it is.

When asked if he doesn't think he may be late to the party, seeing as Bitcoin has more than doubled in price since September and climbed above its all-time high, Scaramucci responded that he believes Skybridge “could be at the precursor of an avalanche of institutional investors heading in, not wanting to put it on their balance sheets in 2020.” But orders building up from a large number of institutions for the first quarter of 2021 indicate that more adoption is coming, according to Scaramucci.

Skybridge's Bitcoin product comes with a holding period of three months. Scaramucci says the fund wants to "target our investors to think about this long-term."

There’s an expression called HODL—most people in the Bitcoin community know what that means.

He further shared his estimate that Bitcoin could double or triple in price from its current level at $23,000. "I don’t think it’s late. If anything, it’s the first inning: you’re about to see that wave of early adoption by the institutional community. I’d like to get our investors involved before that.”

Explaining his focus on Bitcoin, Scaramucci added, “in Bitcoin’s case, 6,500 attacks from other types of digital currencies left it the top dog, if you will, in the digital currency space.”

Skybridge has deployed $25 million of its own capital into the fund.

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