Syz Capital, the $2bn alternatives investment arm of the family-owned Syz Group, is set to reopen its bitcoin-denominated fund of crypto hedge funds, the BTC Alpha Fund, to new and existing investors from 1 October 2025 in response to growing institutional demand.
The fund, launched in March 2025, was swiftly closed after just one month to external capital, following overwhelming investor demand. Now, after expanding liquidity across its selected manager pool, Syz Capital has unlocked new capacity of 2,000 BTC, and already secured approximately 1,800 BTC in commitments from a growing cohort of sophisticated investors including family offices, multi-family offices, HNWIs, corporate treasuries, and crypto-native foundations.
“We’re seeing sustained and growing institutional appetite for Bitcoin-denominated strategies,” said Richard Byworth, Managing Partner at Syz Capital. “This reopening is a direct response to that momentum. Our team has worked closely with our selected managers to expand liquidity and increase capacity meaningfully.”
The BTC Alpha Fund aims to delivers exposure to a handpicked, globally diversified portfolio of top-tier crypto hedge funds, targeting opportunities in volatility trading, arbitrage, DeFi liquidity provision, and market-making inefficiencies, with the goal of delivering consistent, uncorrelated returns.
Targeting high single digit annual returns with quarterly liquidity, the BTC Alpha Fund balances stable and consistent returns with low volatility.
In line with Syz Capital’s investor-first ethos, the BTC Alpha Fund features no management fees, only performance-based compensation, ensuring the team is directly aligned with investor outcomes.
The reopening reflects a broader institutional shift toward professionally managed, bitcoin-denominated investment vehicles that prioritise risk-adjusted returns and operational robustness.
