Ethereum Is ‘Completely Dead’ As An Investment, Claims Hedge Fund CIO

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete. Investments Allocated Mainly in Bitcoin and Ethereum According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900). Although Avenue Investment....

In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....

Few hedge funds are looking forward to buying into Mt Gox claims as they expect Bitcoin price to appreciate further. The victims of Mt Gox are yet to receive the payouts. While they still wait for closure, hedge fund managers are busy digging for opportunities to make money. The reports indicate that few hedge funds in the United States and Japan are planning to buy the claims from Mt Gox victims with the hopes of capitalizing on the appreciating Bitcoin price in the future. According to a report on one of the leading financial news outlets, at least four different hedge funds have started....

Hedge funds are offering to purchase claims from creditors who lost their Bitcoins when Mt. Gox went bankrupt in 2014. As the Financial Times reports, four hedge funds have said they are willing to purchase customer claims for 15 percent of the total amount in Japanese yen. Mt. Gox customers who lost coins face regaining no more than 25 percent of their investments. However, their claim costs were calculated when Bitcoin was trading at around $430, meaning that even a partial refund could now be lucrative. “The peculiarities of the situation — in which creditors may not be paid out for at....

It's been a bumper year for bitcoin hedge funds. While the entry of big money from Wall Street into the bitcoin markets is discussed with equal measures of glee and rage in the community, some big-money financiers are already making moves in the cryptocurrency markets. We're not talking about Barry Silbert's Bitcoin Investment Trust or the Winklevoss twins' bitcoin index fund. No, there's a new class of funds running money for wealthy individuals, families and institutions, aimed to get these sophisticated investors into the bitcoin game. Here's a roundup of the new bitcoin funds so far:....