Former executives from Citigroup are aiming to raise $100 million for bitcoin hedge funds


TL;DR Breakdown

  • Citigroup’s former co-head of futures at the firm’s big FX trading and clearing business.
  • Experienced hedge fund managers are putting huge bets.
  • PwC survey claims $3.8 billion worth of funds globally.

Last month, three senior Citigroup Inc. employees quit and formed Motus Capital Management to make bitcoin betting more accessible to high-net-worth consumers.

In the same interview, Alex Kriete, Greg Girasole, and Frank Cavallo all said yes to raising $100 million for two actively managed hedge funds focused only on digital assets. The Latin phrase for “motor” was coined with each of them as a founding partner.

Customers, according to Kriete, want their money back. Despite their want to be noticed, many find it difficult to discriminate between a real investment offer and a scam. According to reports, all three wanted to donate to Motus’ fund with their money. Non-final investments will limit their trade to meet the needs of potential investors.

Citigroup’s former co-head of futures at the firm’s big FX trading and clearing business

In the world of asset management, crypto wallet managers are a new and distinct group of asset managers. Reports from PwC state that there are $ 3.8 billion in these funds worldwide. PwC found that less than half of all bitcoin hedge funds have under their control more than $ 20 million.

Many people who used to work for Citigroup in New York are now working for beginners cryptocurrency. Cavallo, Girasole, and Kriete are all in the group, just like everyone else. Here’s how it worked: Mr. Perkins, who was once one of the future leaders of Citigroup’s largest FX trading and cleaning business, joined CoinFund in August as a managing partner and president after Mr. Zhang left in October to start a fund investing in crypto companies, and is now a managing partner and president. It has hired Sabrina Wilson, a former co-director of Perkins, to become COO. Copper is a place where people can store and trade in digital goods.

PwC survey claims $3.8 billion worth of funds globally

Cryptocurrency hedge funds are a new thing in the world of asset management. People who work for PwC say there is about $3.8 billion worth of these funds all over the world. One study by PwC found that only half of all crypto hedge funds have assets worth more than $20 million in total at the time the study was done.

A lot of people are leaving Citigroup in New York and going to work in the cryptocurrency industry. Cavallo, Girasole, and Kriete are part of this group that is still growing. Matt Zhang, a Citigroup structured-products team co-leader, was the person who did this.

Experienced hedge fund managers are putting huge bets on Bitcoin

Several well-known hedge fund managers are betting a lot on Bitcoin because of the growing interest in the technology, and they think it will grow and last a long time. Bridgewater Associates, the world’s most well-known hedge fund, invests in a crypto hedge fund, but it doesn’t buy any crypto. He owns bitcoin and other well-known cryptocurrencies, and he has said that governments would try to stop people from using them if they became more popular.

At this time, Tudor Investment Corp. and Alan Howard are trying to grow their cryptocurrency trading business. If you want to use them again, Morgan Stanley and Citigroup have used them in the past. They have a lot of work to do in the financial sector.

Final Thoughts

Girasole says that in order to meet our customers’ needs for a fiduciary standard, we work with the best-in-class providers. lot of income funds will change when Motus comes to New York. Tokens with low market prices, which big funds don’t like, are the focus of the growth fund, says Cavallo. Sweet spot is where I want to be, he said. It’s up to the customers to use things like Bitcoin and ETH to do it on their own. They don’t need anyone else to buy Bitcoin for them in this case..

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Muhammad Ali

Muhammad Ali is an expert on crypto investments. Loving to write about fintech, he joins the team to provide detailed analyses of the hottest crypto news.

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