Fri, May 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IronChain Capital launches first-of-its-kind mutual fund-like cryptocurrency index fund

Tuesday, May 15, 2018
Opalesque Industry Update - IronChain Capital announced the launch of two innovative mutual fund-like cryptocurrency index funds: IronChain MiX10 and IronChain MiX10 Institutional. Both Funds will track the MiX10 Index, a market cap weighted index that tracks up to the 10 largest cryptocurrencies (www.mithrilx.co). The Funds offer daily liquidity, broad diversification and institutional-grade security and custody for only a 1% management fee. IronChain will waive the management fee for one year for investors that set up an account by June 30, 2018.

Accredited investors and qualified purchasers can directly invest in the Funds in USD, Bitcoin and Ether on a daily basis through IronChain's website, providing for an efficient process and intuitive investing experience. The Funds benefit from a hybrid liquidity pool that combines exchange aggregation and OTC desks. The Firm also leverages its network of custodians and technology partners, including Kingdom Trust, Ledger and Xapo, to provide investors with best-in-class asset security.

"The disruptive nature of cryptocurrencies and the blockchain technologies at a global level is real, but poses an important challenge for investors to obtain exposure," said Jonathan Benassaya, CEO and Founder of IronChain. "Our mission is to build the first full-service investment platform dedicated to cryptocurrencies that provides easy access to the most liquid digital currencies. We believe our first two Funds will be a game changer in helping to further institutionalize the digital asset industry."

In conjunction with the launch of its two Funds, IronChain has also completed a $2.5 million seed round of capital raising led by Matrix Partners in partnership with Montage Ventures and Draft Ventures. The capital will be used to strategically build out IronChain's platform and suite of offerings.

IronChain is led by a highly experienced executive management team comprised of technology entrepreneurs and asset management veterans from many of the world's leading global financial institutions. In addition to its founder, IronChain's co-founders include Steven Baum (former President/COO of multi-billion dollar hedge funds Ivory Capital and JMB Capital), Michael Yeh (Goldman Sachs, Blackrock/BGI, Charles Schwab) and Dr. Anton Muehlemann (Wikifolio, Blockchain at Berkeley).

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven