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In Spain, an investment company has begun to promote what they call “the first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, led by cryptocurrency advocate Martin Huete.
According to Infobae, hedge funds are “specifically” aimed at qualified investors, with a minimum investment of 100,000 euros ($120,600). However, anyone who wants to join a crypto hedge fund should prove to the company that they hold 750,000 euros ($904,900) in assets.
Although Avenue Investment Crypto just launched the product, it was created by the company in 2019. Huete was appointed as the Institutional Relationship Manager during the commercialization phase of crypto hedge funds.
In the investment portfolio provided by the company, the total exposure of crypto hedge funds is between 40% and 100% of the fund, with investments in Ethereum (ETH), Bitcoin (BTC) and other undisclosed cryptocurrencies.
Nevertheless, as the legal currency of the base currency fund is the euro, Avenue Investment Crypto clarified all accrued profits.
The people responsible for managing crypto hedge funds are Arne Vaagen and Francisco Gordillo.
Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999, which manages more than 1.3 billion euros. In addition, the company stated that Gordillo has 25 years of experience in the banking industry and has been studying the cryptocurrency field since 2012.
Gordillo commented on crypto hedge funds:
Our advice to investors is that they keep their future plans. It’s like investing in Wall Street at the beginning of its establishment, based on the foundation of the future.
First, the investment company seeks to promote the fund in Spain, Portugal and Northern Europe. In addition, the second phase is aimed at Latin America and the rest of Europe.
Avenue Investment Crypto is expected to raise nearly $122 million by the end of 2021. As of press time, they have raised more than $24 million.
What is your opinion on the idea of crypto hedge funds? Let us know in the comments section below.
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