Digital assets-focused quantitative hedge fund firm Presidio Trading, is planning to spin out its existing cryptocurrency market tail risk strategy into a separate, standalone fund, according to a report by CoinDesk.
Digital assets-focused quantitative hedge fund firm Presidio Trading, is planning to spin out its existing cryptocurrency market tail risk strategy into a separate, standalone fund, according to a report by CoinDesk.
The report cites a statement by the company as confirming that decision is in response to demand from existing and prospective investors in the company’s multi-strategy fund.
The tail-risk strategy has produced strong returns this year jumping by 560% in June alone, while the overall overall fund added 4%. Ether (ETH) meanwhile, fell 44%, and bitcoin (BTC) dipped 37% over the month.
The new fund, which is scheduled to open to accredited investors in the first quarter of next year with an initial limited capacity of $10 million, will employ a tweaked version of the existing tail-risk strategy designed to to provide broader protection, most likely by covering a cryptocurrency index, the firm said.
