Metalpha To Launch A $100 Million Crypto Fund To Reach Grayscale Products

Key Points:

• Metalpha intends to raise a $100 million fund to invest in Bitcoin and other cryptocurrency products.
• The fund will invest directly in Grayscale’s investment products and indirectly in Grayscale’s investment products via structured derivatives.
• The fund’s main selling point is that it provides a legally legitimate option for Asian investors to participate.

Metalpha, based in Hong Kong, plans to launch a $100 million fund in the region, giving investors access to Grayscale’s digital asset products, including the Grayscale Bitcoin Trust (GBTC), as well as the option to redeem shares.

Metalpha calls this fund the ‘Next Generation Fund,’ and it aims to raise $100 million. Metalpha, previously known as Dragon Victory International, has raised $20 million for its new fund since March, according to Adrian Wang, Metalpha’s president.

Metalpha is sponsored by Singapore-based bank Antalpha, which has been collaborating with Chinese Bitcoin mining equipment manufacturer Bitmain Technologies Ltd. to provide low-interest loans to cryptocurrency miners.

Metalpha said in a statement that the fund would invest directly in Grayscale’s investment products and indirectly through structured derivatives in respect of Grayscale’s investment products, providing institutions, family offices, and high-net-worth individuals with a compliant channel to gain indirect exposure to crypto.

Grayscale is one of the world’s major digital currency asset managers, offering a variety of products regulated by the Securities and Exchange Commission (SEC) in the United States. The company’s solutions enable access to and exposure to cryptocurrency with high liquidity and, in certain cases, considerable market capitalization. Although the GBTC discount reached a record 50% in December, it is now just approximately 36%. Adrian Wang said in the release:

“Grayscale is one of the largest digital asset fund managers in the world, and we are optimistic about the future growth of Grayscale powered by crypto adoption.”

The fund’s main selling point is that it provides a legally permissible means for conventional finance investors in Asia to enter the so-called Web3 sector, or a decentralized version of the internet based around blockchain technology.

With its subsidiaries, the listed firm is committed to offering investment and wealth management services on a full-service, institutional-grade platform. The company’s goal is to become a pioneer in the world of crypto wealth management services, providing clients and companies with strong innovation and transparency.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News