New Cryptocurrency Hedge Fund Files To Raise $200M

Jul 12 2017 | 9:12pm ET

New hedge fund Cryptocurrency Fund LP has filed to raise $200 million in capital to invest into blockchain-based assets like bitcoin, according to regulatory filings.

The new fund revealed the capital raise in a Form D filing with the U.S. Securities & Exchange Commission. The filing, which lists a Nevada business address for the Delaware-registered fund, was signed by CEO Pavlo Savchuk and dated July 7.

Little else is known about the precise investment plans for the fund, although its website states it will only invest in blockchain-based assets. Whether this means just relatively mature digital tokens such as bitcoin, ether and litecoin or also initial coin offerings was not immediately available, nor was the specific strategy approach the fund will use when deploying assets. However, the fund will also register as a commodity pool operator with the National Futures Association, Savchuk reportedly told Reuters in an interview. 

Savchuk’s background includes a short stint as a securities trader for T3 Trading in New York and work as a foreign trade manager for Gresa Group in Kiev. 

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