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Laxman Pai, Opalesque Asia: Israel cryptocurrency investment firm for institutional and accredited investors Silver Castle is launching two new crypto funds for institutional investors.
The crypto-focused firm anticipates that the funds will reach $50m before the year ends.
According to a report in Bloomberg, the current cryptocurrency market slump has not hindered the digital currency investment house from launching. The bitcoin has fallen more than 70 percent from a record high last December.
Currently there are more than 370 crypto funds managing as much as $10bn in assets, according to Autonomous Research, a minute amount in the investment universe. That hasn't deterred Silver Castle.
Silver Castle's first fund based on an algorithmic trading system selling the five largest coins through market value, said the company.
The second fund offers a basket of the 10 best coins, while the third, a token-based fund launched at the end of the year, becomes ICO, it said.
The firm intends to launch a third fund that will focus on initial coin offerings before the year ends.
The Bloomberg report quoted Chief Executive Officer Eli Mizroch as saying that his company spent close to a year building robust infrastructure for managing other people's money at the level of institutional grade with very, very high security.
Silver's list of executives includes Zvi Ziv, former chief executive officer of Bank Hapoalim Ltd., Israel's largest bank by asse...................... To view our full article Click here
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