Hilbert Capital and Xapo Bank Launch $200M Bitcoin Hedge Fund
Bitcoin Hedge Fund by Hilbert Group & Xapo Bank
Xapo Bank and Hilbert Capital, the asset management division of Sweden’s Hilbert Group, are set to launch a bitcoin-denominated hedge fund with an initial capital of $200 million. Slated for a September debut, the fund targets corporations, businesses, and professional investors, marking a significant step in the institutional embrace of cryptocurrency.
Joey Garcia, Director of Xapo Bank, emphasized the importance of offering products that not only provide exposure to Bitcoin's price but also aim to grow the Bitcoin value of investments. He highlighted Hilbert's role as a key partner, ensuring the fund operates with the necessary investment experience, security, and integrity.
While details on the fund’s fees remain undisclosed, the firms hinted they would be lower than the typical 2% management fee and 20% performance fee seen in similar hedge funds. This partnership between Xapo Bank, a veteran in the Bitcoin space, and Hilbert Group has been evolving over the past year, with Hilbert Group CEO Niclas Sandström expressing confidence in the fund's potential for significant growth.
The rise of bitcoin hedge funds may indicate a broader institutional adoption of crypto, signaling increased demand for sophisticated financial products beyond those available to retail investors.
This article has been refined and enhanced by ChatGPT.