European Crypto ETP Provider CoinShares to Launch Hedge Fund for US Accredited Investors

Odaily Planet Daily News According to a document submitted to the US SEC on Wednesday, European encryption ETP provider CoinShares is about to launch its first hedge fund for qualified investors in the United States. The CoinShares Bitcoin US Feeder Fund is actively managed and may begin trading in the next few weeks. Currently, CoinShares assets under management (including assets held by its ETP products) are approximately $3 billion. A spokesman for CoinShares declined to comment. CoinShares previously said in its first-quarter earnings report that large investors have begun turning to actively managed alternative investment products. Subsequently, CoinShares announced adjustments to its business and plans to launch an "alternative asset management business." (Blockworks)