First crypto hedge fund

The first crypto hedge fund has been launched in Spain by an investment company. The crypto hedge fund has been registered in Malta by Avenue Investment Crypto and managed by a crypto advocate, Martin Huete.

Investments Allocated Mainly in Bitcoin and Ethereum

According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900).

Although Avenue Investment Crypto just launched the product, it was created by the firm in 2019. Huete was appointed as the institutional relations manager amid the commercialization phase of the crypto hedge fund.

Within the portfolio offered by the firm, the total exposure of the crypto hedge fund ranges between 40% and 100% of the fund with investments in ethereum (ETH)bitcoin (BTC), and other undisclosed cryptos.

Still, the fiat serving as base currency fund is the euro, and Avenue Investment Crypto clarified all profits accrue.

Firm Expects to Raise $122 Million For First Crypto Hedge Fund by the End of 2021

The people in charge of managing the crypto hedge fund are Arne Vaagen and Francisco Gordillo.

Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999, with over 1,300 million euros under management. Also, Gordillo has 25-years’ experience in the banking sector, and since 2012, it has been studying the cryptocurrencies sector, said the firm.

Gordillo commented about the crypto hedge fund:

What we propose to the investor is that they keep a plot of the future; it is like investing in Wall Street in its founding moments, taking a position on the foundations of the future.

In the first instance, the investment company seeks to promote the fund across Spain, Portugal, and North Europe. Moreover, the second stage targets Latin America and the rest of Europe.

Avenue Investment Crypto expects to collect almost $122 million before the end of 2021. As of press time, they’ve raised over $24 million.

This article is sourced from:https://news.bitcoin.com