Hilbert Group partners with Xapo Bank to launch a Bitcoin-denominated hedge fund with over $200 million in expected capital

Quantitative investment company Hilbert Group has announced a strategic partnership with crypto-friendly Xapo Bank to manage a new Bitcoin-denominated hedge fund.

Hilbert Group, a quantitative investment firm, is partnering with Xapo Bank, a crypto-friendly bank, to launch a Bitcoin-denominated hedge fund with an expected capital of over $200 million. The fund will launch in September and is set to begin attracting capital from Xapo Bank and other investors throughout 2024.

According to a press release on Aug. 27, the fund will provide corporates, businesses, and professional investors with the opportunity to "generate returns in BTC from institutional-grade structured credit arrangements, which are not available to those participants directly in the market."

Joey Garcia, director at Xapo Bank, commented on the fund, stating, "As the asset class naturally evolves, we want to ensure we are offering the right products for participants in the space who are aiming not only for exposure to the Bitcoin price, but also structured ways to grow the Bitcoin value."

The fund will charge lower fees compared to Hilbert’s other hedge funds, which typically operate on a “2% and 20%” fee structure.

Niclas Sandström, CEO of Hilbert Group, expressed optimism about the partnership, noting that over the last 12 months, the company developed a "close and strategic relationship" with Xapo Bank, adding that the both are expecting the fund to "grow significantly over the coming year."

Recently, Xapo Bank became the first bank in the U.K. to offer interest-bearing Bitcoin (BTC) and fiat accounts after successfully extending its banking license to operate in the country.

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