Crypto Chronicle
  • Home
  • News
  • Reality Shares to Launch $100 Million Cryptocurrency Fund
News

Reality Shares to Launch $100 Million Cryptocurrency Fund

Double exposure of Stock market

Reality shares is a Californian asset management company that launched the first-ever blockchain exchange-traded fund (ETF) in China this past June.

Now the firm plans to launch a new $100 million cryptocurrency hedge fund despite a massive market downturn of late. Reality Shares has already raised $25 million for the fund which will involve venture, arbitrage and directional strategies.

Institutional investment in cryptocurrency has managed to remain fairly high in face of continued skepticism from the U.S. Securities and Exchange Commission (SEC) regarding a Bitcoin ETF. A KPMG report shows that blockchain investment this year is already higher than the total amount of investment last year.

In 2018 alone, a whopping 96 cryptocurrency funds have been launched, bringing to overall total up to 466 since the first funds appeared in 2014.

Like most crypto funds, the new Reality Shares fund will be capped between $5 million and $100 million. Only 28 funds have been able to cross the $100 million mark such as Andreessen Horowitz’s $300 million cryptocurrency fund launched earlier this year.

The sector is also seeing increased interest from backers of traditional funds. In July this year, billionaire entrepreneur and founder of Point72 Asset Management, Steven Cohen, invested an undisclosed sum into Arianna Simpson’s blockchain hedge fund, Autonomous Partners. The fund also saw investment from Coinbase and former Paypal COO David Sacks.

Image From Shutterstock

Related posts

Israeli Cyber Security Engineer Arrested in $50 million Dark Web Deal

Mark Hartley

Binance Coin (BNB) Reaches All-Time High Against BTC

Mark Hartley

VeChainThor Blockchain launches ICO for Gamers – Plair Platform

Mark Hartley

Leave a Comment

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close