In Spain, an investment company has started promoting the first crypto hedge fund. The product was registered in Malta by Avenue Investment Crypto, led by cryptology lawyer Martin Huete.

Investments allocated primarily to Bitcoin and Ethereum

According to Infobae, the hedge fund targets only qualified investors with a minimum investment of 100,000 euros ($120,600) or more. However, those who want to join a crypto hedge fund must prove to the company that they have 750,000 euros ($904,900) in assets.

Although Avenue Investment Crypto has just launched the product, it was developed by the company in 2019. Huete was appointed Head of Institutional Relations during the marketing phase of the crypto hedge fund.

In the portfolio offered by the firm, total exposure to crypto hedge funds ranges from 40% to 100% of the fund with investments in Ethereum (ETH), Bitcoin (BTC) and other undisclosed cryptocurrents.

However, the underlying currency of the fund is the euro, and Avenue Investment Crypto has clarified all profits made.

The Corporation expects to raise $122 million by the end of 2021.

Arne Vaagen and Francisco Gordillo are responsible for managing the crypto hedge fund.

In 1999 Mr Vaagen founded together with Brummer & Partners the hedge fund Futuris, which manages more than EUR 1,300 million. Gordillo also has 25 years of experience in the banking industry and has been studying the cryptocurrency sector since 2012, the company said.

Gordillo commented on the crypto hedge fund:

What we have to offer an investor is to keep the fabric of the future alive, it’s like investing on Wall Street in its founding moments, taking a stand on the foundations of the future.

The investment company intends to promote the fund mainly in Spain, Portugal and Northern Europe. In addition, the second phase will focus on Latin America and the rest of Europe.

Avenue Investment Crypto plans to raise nearly $122 million by the end of 2021. At the time of going to press, they had raised over $24 million.

What do you think of the idea of a crypto hedge fund? Let us know in the comment section below.

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

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