LedgerPrime, the digital asset investment fund, has recently released data confirming that they have sold their securities worth $49.5 million to invest their capital in Bitcoin and Ethereum. The data has been revealed in accordance with the Securities and Exchange Commission of the United States.
LedgerPrime Raises $50 Million For Bitcoin Fund
The president and chief investment officer of the investment company, Shiliang Tang, told that the purchase was by nine clients as they serve institutional investors.
The company was established in the year 2017, and it describes itself as a quantitative and systematic digital asset investment company.
In addition to this, Shiliang Tang revealed that their target is on quantitative and systematic strategies with very high Sharpe and low drawdown.
Tang released a statement which says:
“This $50M offering was into our fund which we use to trade our quantitative strategies in BTC/ETH and other tokens, not simply just to buy and hold BTC/ETH.”
Tang said addressing the purchase by the institutional investors:
“We invest mostly in BTC/eth but trade all cryptos.”
After the correction in the month of February, it is an indication that there is a return of interest.
Evolution of The Crypto Derivatives Market
The vice president of business development of the digital asset investment firm LedgerPrime, Ayesha Kiani recently spoke at SXSW 2021. She discussed the advancement of the crypto derivatives market.
Touching various aspects of the mainstream adoption of crypto, she said:
“We all are striving for the same thing. Currently DeFi (decentralized finance) is about 1% of what CeFi (centralized finance) is. By 2022, DeFi is expected to have around 10 million users.” We are here to help…at the end of the day, we all have the same goal for cryptocurrency to be widely adopted.”
In addition to this, discussing the quantitative and derivatives trading, the chief investment officer of LedgerPrime, Schilling Tang said:
“We’ve made a huge effort in making sure our investors understand the markets that we want to get into; the returns that they are expecting from us. That we allocate capital based on different platforms…So much of crypto is managing your capital and balance sheet, something that you think a bit less of in traditional markets.”