BlockTower Capital, a cryptocurrency hedge fund, raises $ 140 million …

BlockTower Capital, a cryptocurrency hedge fund, raises $ 140 million ...

BlockTower Capital cryptocurrency hedge fund raises $ 140 million

Rapid growth of rates bitcoin and altcoins last year coincided with launching futures, which allow investors to work with cryptocurrencies on regulated markets. Yet one evidence of the penetration of bitcoin into the world of traditional finance can serve occurrence a large number of cryptocurrency funds. One of them already attracted $ 140 million.

As Bloomberg reports, the investors of the American fund BlockTower Capital were Union Square Ventures LLC, Andreessen Horowitz, as well as several venture capital companies and companies on trust management of family capital. BlockTower has recently notified potential investors about Tom, that from January 1, the collection stops funds within the main fund.

Besides Togo, to the fund team in quality Heads of Business Development Joined Former Vice President of Goldman Sachs Group Michael Bucella.

According to Morgan Stanley, in cryptocurrency space work already more 100 funds that manage are assets for $ 2 billion. Large companies such as Goldman Sachs are also involved in this process by providing his clients services by clearing cryptocurrency contracts.

The number of cryptocurrency funds will likely continue to grow this year. Hedge Fund Research launched an index, tracking indicators of funds operating in this areas. It was found that in November the profitability of funds investing in cryptocurrencies and blockchain-company, made up 1,500%, while time how the return on funds whose investments are limited to digital assets exceeded 1,600%.

Recall that in December BlockTower delivered a million dollars on what until the end of the current of the year bitcoin rate will reach $ 50 000.