"We believe that offering the right products for participants in the space who are aiming not only for exposure to the Bitcoin price, but also structured ways to grow the Bitcoin value of those investments is a natural evolution of the asset class," Xapo Director Joey Garcia said.
The growth of bitcoin hedge funds could be seen as a barometer for increasing institutional adoption of crypto, as the investment class signals demand for sophisticated products beyond what can be offered to retail investors.
The firms have not said specifically what the fund's fees will be, though did say they will be "at a lower level than other 2% and 20% hedge funds."
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