Jamie Crawley is a CoinDesk news reporter based in London.
Xapo Bank and Hilbert Capital, the asset management arm of Swedish investment firm Hilbert Group , plan to manage a bitcoin"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 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". This refers to a fee structure where the manager charges 2% as a management fee and 20% as a performance fee on the fund's upside. 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.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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