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ESG-focused crypto hedge fund Modular buys algorand and polkadot

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Modular Asset Management’s ESG-focused crypto hedge fund is betting that tokens with stronger sustainability characteristics will outperform other digital assets by buying algorand and polkadot, according to a report by Bloomberg.

Speaking in an interview with Bloomberg, Daniel Liebau, chief investment officer, said that in recent weeks, the Modular Blockchain Fund had also increased its holdings of cosmos.

Liebau’s strategy is to bet on coins he believes are best placed to withstand increased scrutiny of the ESG credentials of cryptocurrencies. 

Polkadot and Algorand have dropped 43% and 39%, respectively, since Liebau’s fund launched on 10 May, compared with a 34% decline in the MVIS CryptoCompare Digital Assets 100 Index. Cosmos meanwhile, is down about 6%. 

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