Cryptocurrency Exchange Bitfinex Has Listed Its First-Ever Crypto Hedge Fund “Fulgur Alpha”
Only accredited or institutional investors will be able to get access to the crypto hedge fund
Bitfinex Fulgur Alpha
Bitfinex clarifies while announcing the news on Monday, March 16 that only accredited or institutional investors will be able to get access to the crypto hedge fund Fulgur Alpha.
While explaining the Fulgur Alpha crypto hedge fund, the crypto exchange Bitfinex says that it is basically a Bahamas-based absolute returns crypto hedge fund. According to the announcement, this Bahamas-based cryptocurrency hedge fund is worth $280 million.
According to the Chief Technology Officer (CTO) of Bitfinex exchange Paolo Ardoino, the assets of the fund have been held at the crypto custody solution provider Delchain Limited and Bahamas-based administrator Deltec Fund Services and a division of financial services firm Deltec International Group manage the fund.
Adding further, Bitfinex CTO Paolo Ardoino says, “The minimum investment size of the fund is $10 million for accredited investors.” He says that currently, the residents of the U.S. and Bahamas cannot get access to this fund.
The fund is a “unique proposition”
The executive head of operations at Delchain Bruno Macchialli shares his view regarding the fund and calls it a “unique proposition”. Explaining it further, Bruno said that it is a “blueprint for institutional investment in crypto leveraging the required liquidity and custody solutions.”
The framework of the Fulgur Alpha crypto hedge fund is likely to get more funds. According to Ardoino, this fund ensures the safety and protection of institutional investors therefore it might become a growing trend for 2020-2021.
In his concluding comments, Paolo Ardoino talks about custody providers and says:
“We are seeing big requests in crypto-custody integrations for 2020, and this means that such custody providers are going to service a growing number of funds (either fully crypto-oriented or just dedicating a part of their assets under management to crypto) that want to trade on a professional trading venue but at the same time want to ensure that they have all the protection they are used to in a traditional fund set up”
However, the institutional investors have now found an opportunity in the form of Fulgur Alpha cryptocurrency hedge fund and they can get benefits from it.
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