Digital Assets: Metalpha Setting Up $100M Crypto Fund In Hong Kong For Chinese Institutions

April 12, 2023 | Digital Assets, News

Metalpha is backed by Singapore-based financier Antalpha.

Hong Kong-based asset manager, Metalpha Technology Holding, has launched a $100m fund to invest in Grayscale Investment’s Bitcoin and other crypto products. The firm, which is a licensed digital asset wealth manager, aims to provide regulated access to Asia-based investors with traditional finance backgrounds looking to access the so-called web3 space.

The primary focus of the fund is to invest in Grayscale’s crypto investment products either directly or indirectly through structured derivatives linked to Grayscale’s products. This will enable high-net-worth individuals and institutions to gain indirect exposure to cryptocurrency.

Metalpha’s new fund was launched in partnership with NextGen Digital Venture and has already secured $20m in funding since March. The company’s president, Adrian Wang, said that its key selling point is providing a legally compliant way for overseas Chinese institutions, such as family offices and public companies, to get involved in cryptocurrencies.

Metalpha is backed by Singapore-based Antalpha, which has partnered with Bitmain Technologies to offer low-interest loans to crypto miners. The company plans to stay in Hong Kong following the city’s plans to become a crypto trading hub.

Metalpha believes that investor risk appetites are returning following the collapse of FTX last year and that its regulator-compliant offering will benefit from renewed interest in the space. The company competes with lenders such as Matrixport Technologies and Amber Group.

Related Story:  Hong Kong The New Mecca For Crypto Providers?

Image by Kevin Muto from Pixabay

Image by OshDesign from Pixabay

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