Cryptocurrency exchange Bitfinex has onboarded Bahama-based hedge fund, Fulgur Alpha, in order to appeal to institutional investors.
Institutional investment into digital assets has been a hot topic over the past two years with a significant spike in interest on the back of Facebook’s proposed Libra project.
Large deals are typically conducted via over-the-counter (OTC) desks, which take place away from order books to avoid slippage.
Fulgur Alpha’s assets are held at Delchain Limited, a licensed provider of custody, banking and capital.
“It is really rare that a fund of this size chooses to trade almost exclusively in a single location,” said Paolo Ardoino, Chief Technology Officer at Bitfinex. “The onboarding of Fulgur Alpha cements Bitfinex’s position as the go-to venue for major crypto funds, market makers and arbitrageurs.”
Bruno Macchialli, Executive Head of Operations at Delchain, added: “We’re bringing a traditional fund set up to the crypto space, with a diversification of risk, making this a unique proposition that has not been seen before.
“This represents a blueprint for institutional investment in crypto, leveraging the required liquidity and custody solutions.
Coin Rivet has extensively covered the OTC Bitcoin market over the past year, with data signalling that a lack of retail interest has paved the way to a spike in institutional investment.
This has been spurred by reputable banks like JP Morgan launching its own cryptocurrency while a number of countries are assessing the benefits of a central bank digital currency (CBDC).
To read Coin Rivet’s guide on OTC trading, click here.
Las Vegas, US, 1st November 2024, Chainwire
From digital art to real-estate assets, NFTs have become a significant attraction for investors who…
Singapore, Singapore, 21st October 2024, Chainwire
HO CHI MINH, Vietnam, 17th October 2024, Chainwire
London, UK, 16th October 2024, Chainwire
Sinagpore, Singapore, 16th October 2024, Chainwire