Crypto hedge fund LedgerPrime is planning to return all capital to outside investors while it makes the transition to a family office, pending regulatory approval, according to a report by Seeking Alpha.
The report cites an investor letter as revealing details of the plan which will see LedgerPrime, whose parent company Ledger Holdings was acquired by crypto exchange FTX last year, continue to operate independently.
Following the transition, LedgerPrime, which reportedly has between $330 million and $400 million in assets, will only make investments on behalf of trading firm Alameda Research, which was started by FTX founder and CEO Sam Bankman-Fried.
