Key Points:
According to Bloomberg, the quantitative fund Kbit, which has over $100 million in assets under management, scooped up the growing US Bitcoin and Ethereum ETF market.
Where traditional hedge funds run an essential trade to collect money from price discrepancies between, say, an asset and futures, a digital-asset world which Kbit says it never strayed from. Kbit Founder and CEO Ed Tolson stated, “The larger opportunities, higher return opportunities are in the crypto-native markets.”
Kbit uses a market-neutral trading strategy to capture profits from rising and falling prices while reducing overall market risk. It is also a market maker incorporated in the British Virgin Islands.
Performance details are not disclosed because the fund’s details remain confidential with the clients. Tolson says trades involving native crypto instruments, such as buying spot crypto and shorting perpetual swaps, bring more excellent value than traditional methods.
Kbit’s trading approach is all-encompassing, including everything that has volume, creating trading opportunities and inefficiencies. This fund trades in some 500 different tokens, regardless of the fundamentals. Kbit aggressively expanded the team, adding seven new hires this year.
Read More: BitFlyer Acquires FTX Japan With 100% Share Purchase
Key additions include Thomas Johnson, a former Citadel senior quant developer, while Sean Slotterback of Highbridge Capital Management is another addition and leads expansion in forecasting and portfolio risk management.
Eddie Markman, formerly of Sun Mountain Capital, has been appointed chief financial officer. The team has doubled in size over the last year, from seven to 14 people.
Kbit’s innovative strategies and robust team will make it one of the biggest players in this changing landscape of cryptocurrencies and ETF markets.
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. |
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