In Spain, an investment company has started promoting the so-called “first crypto hedge fund”. The product was registered in Malta by Avenue Investment Crypto under the direction of a crypto advocate, Martin Huete.
Investments mainly in Bitcoin and Ethereum
According to Infobae, the hedge fund is “exclusively” aimed at qualified investors whose minimum investment starts at 100,000 euros. However, anyone wishing to join the Crypto Hedge Fund should provide the company with evidence that they hold assets worth EUR 750,000 (USD 904,900).
Although Avenue Investment Crypto has just launched the product, it was developed by the company in 2019. Huete was named Institutional Relations Manager during the commercialization phase of the Crypto Hedge Fund.
Within the portfolio offered by the company, the total risk of the crypto hedge fund is between 40% and 100% of the fund with investments in Ethereum (ETH), Bitcoin (BTC) and other undisclosed cryptos.
However, the fiat that serves as the base currency fund is the euro and Avenue Investment Crypto has made it clear that all profits will accrue.
The company expects to raise $ 122 million by the end of 2021
The people responsible for the administration of the Crypto Hedge Fund are Arne Vaagen and Francisco Gordillo.
Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999 and managed over 1,300 million euros. In addition, Gordillo has 25 years of banking experience and has been researching the cryptocurrency sector since 2012, the company said.
Gordillo commented on the Crypto Hedge Fund as follows:
What we are proposing to the investor is that they run a property of the future. It’s like investing in Wall Street in the founding moments and standing on the foundations of the future.
First and foremost, the investment company wants to promote the fund across Spain, Portugal and Northern Europe. In addition, the second phase targets Latin America and the rest of Europe.
Avenue Investment Crypto expects to raise nearly $ 122 million by the end of 2021. As of press time, they raised over $ 24 million.
What do you think of the idea of a crypto hedge fund? Let us know in the comments below.
Tags in this story
Avenue Investment Crypto, Bitcoin, Bitcoin (BTC), Crypto Hedge Fund, Ethereum, Ethereum (ETH), Finance, Martin Huete, Spain, Spain Crypto, Spanish, Wall Street
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