Avenue Investment Crypto, Bitcoin, Bitcoin (BTC), crypto hedge fund, Ethereum, Ethereum (ETH), Finance, Martin Huete, Spain, Spain Crypto, Spanish, Wall Street

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.†The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete.

Investments Allocated Mainly in Bitcoin and Ethereum

According to Infobae, the hedge fund “exclusively†targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900).

Although Avenue Investment Crypto just launched the product, it was created by the firm in 2019. Huete was appointed as the institutional relations manager amid the commercialization phase of the crypto hedge fund.

Within the portfolio offered by the firm, the total exposure of the crypto hedge fund ranges between 40% and 100% of the fund with investments in ethereum (ETH), bitcoin (BTC), and other undisclosed cryptos.

Still, the fiat serving as base currency fund is the euro, and Avenue Investment Crypto clarified all profits accrue.

Firm Expects to Raise $122 Million by the End of 2021

The people in charge of managing the crypto hedge fund are Arne Vaagen and Francisco Gordillo.

Vaagen co-founded the hedge fund Futuris with Brummer & Partners in 1999, with over 1,300 million euros under management. Also, Gordillo has 25-years’ experience in the banking sector, and since 2012, it has been studying the cryptocurrencies sector, said the firm.

Gordillo commented about the crypto hedge fund:

In the first instance, the investment company seeks to promote the fund across Spain, Portugal, and North Europe. Moreover, the second stage targets Latin America and the rest of Europe.

Avenue Investment Crypto expects to collect almost $122 million before the end of 2021. As of press time, they’ve raised over $24 million.

What are your thoughts on the idea of a crypto hedge fund? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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