Cryptocurrency exchange Bitfinex has added on its platform Fulgur Alpha hedge-fund, which now manages assets in the amount of $280 mln.
Fulgur Alpha is the cryptocurrency hedge-fund, located in the Bahamas and is available only for accredited investors. Minimal amount of an investment in Fulgur Alpha makes $10 mln, wherein the fund promises stable income with a single rate.
Clients` money is stored in the custody service Delchain Limited and is managed by Deltec Fund Services company, which is also located in the Bahamas. Bitfinex CTO Paolo Ardoino has noted:
“This structure is very similar to the structure of traditional hedge-funds: secure trading place (Bitfinex), custody service (Delchain) and fund manager (Deltec Fund Services)”.
Ardoino has also told that on Bitfinex platform trade different people and organizations, including hedge-funds. However, Fulgur Alpha became the first cryptocurrency fund such a size, appeared on the platform.
Bitcoindoubler2x notes that investments in this hedge-fund are not available for citizens of the USA and the Bahamas. In addition, nationals of countries under US sanctions, such as Iran and North Korea, cannot invest in the fund.
“We believe this is a new trend for 2020-2021, as hedge-funds provide better protection to investors and are more controlled by supervisors. We see an increased number of integration requests”, — Paolo Ardoino has claimed.