As a seasoned researcher with a background in both traditional finance and digital assets, I find this partnership between Hilbert Group and Xapo Bank to be a promising development in the evolving landscape of Bitcoin investment. Having witnessed the rapid growth and volatility of cryptocurrencies, it’s intriguing to see institutional players like Hilbert Group capitalizing on the potential of Bitcoin-denominated hedge funds. The strategic partnership with Xapo Bank, a pioneer in the crypto-friendly banking sector, further solidifies this initiative’s credibility and appeal.
Hilbert Group joins forces with Xapo Bank to introduce a Bitcoin-based investment fund, aiming for over $200 million in total investments.
Investment firm Hilbert Group has revealed a strategic alliance with Xapo Bank, which is open to cryptocurrencies, for the management of a novel Bitcoin-based hedge fund.
According to a statement released on August 27th, the company based in Stockholm has announced that their new fund, slated for launch in September, aims to secure more than $200 million as its starting capital. This amount is expected to come from Xapo Bank and other investors over the course of 2024.
The goal of this initiative is to offer corporations, businesses, and high-level investors a chance to earn profits using Bitcoin, through specialized credit agreements typically unavailable for them in the direct market, as stated in the press release.
Joey Garcia, Xapo Bank’s director, described the fund as a “logical progression of the asset category,” since the company intends to provide suitable products for individuals in the Bitcoin space who are not just interested in Bitcoin price exposure, but also in discovering structured methods to boost the value of Bitcoin.
The new fund will have lower fees than most of Hilbert Group’s other hedge funds, which usually follow a “2% annually and 20% of profits” fee system. Niclas Sandström, CEO of Hilbert Group, is positive about the collaboration, emphasizing that over the past year, the company has built a “tight and strategic alliance” with Xapo Bank. He also mentioned that both parties anticipate the fund to expand substantially in the upcoming year.
The most recent undertaking is a continuation of Xapo Bank’s recent achievement, marking it as the initial British bank to provide interest-earning Bitcoin (BTC) and traditional currency accounts. This milestone was reached following the successful expansion of their banking license within the U.K., enabling them to operate in the country.
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2024-08-27 13:58