Xapo Bank and Hilbert Capital have announced the launch of a $200 million Bitcoin-denominated hedge fund set to debut in September. Aimed at corporate entities, businesses, and professional investors, the fund will offer a unique opportunity to gain exposure to Bitcoin, according to the firms’ announcement on Tuesday.
Joey Garcia, Director at Xapo, emphasized the importance of providing investment products that not only offer Bitcoin exposure but also structured strategies to grow the Bitcoin value of these investments. He noted that partnering with Hilbert Capital, known for its expertise in digital asset management, ensures the fund operates with the necessary investment experience, security, and operational integrity.
Competitive Fee Structure and Institutional Interest
While specific fee details have not been disclosed, the firms indicated that the fees would be lower than the standard hedge fund fees, which typically include a 2% management fee and a 20% performance fee. This move is expected to attract more institutional investors, highlighting the growing interest in Bitcoin as an asset class beyond retail investment options.
Niclas Sandström, CEO of Hilbert Group, expressed confidence in the fund’s potential for significant growth over the next year, citing the investment opportunity and the expertise of the team behind the fund.
Hilbert Capital, the asset management division of the Swedish investment firm Hilbert Group, is listed on the Nasdaq First North Growth Market. The firm specializes in digital assets with a focus on quantitative investment strategies, particularly in cryptocurrencies and blockchain technologies. Hilbert Capital is known for its systematic funds, such as the Hilbert V30 Fund, which utilizes algorithmic trading to manage the volatility of digital asset markets.
Xapo Bank Expands UK Offerings with Interest-Bearing Bitcoin Accounts
In addition to the hedge fund launch, Xapo Bank has recently expanded its services in the United Kingdom by becoming the first licensed bank in the country to offer a combined interest-bearing USD and Bitcoin (BTC) account. This expansion was made possible through the successful passporting of Xapo’s banking license.
Xapo Bank’s new offering allows users to send up to £1 million GBP directly to UK-based wallets and bank accounts, with services available 24/7. Founded in 2013, Xapo Bank has evolved from a Bitcoin wallet service into a comprehensive digital retail bank and Virtual Asset Service Provider (VASP) custodian. The bank guarantees USD deposits up to the equivalent of €100,000, ensuring a level of security comparable to traditional banks.
One of the standout features of Xapo Bank’s new offerings is a Bitcoin account that provides 1% interest without the need for staking, lending, or asset lockups. Members can use Bitcoin through a universally accepted debit card, invest in S&P 500 stocks, or purchase select cryptocurrencies. The bank also integrates stablecoin payment rails with USD bank accounts, effectively bridging the gap between traditional banking and digital asset services.
With these innovative offerings, Xapo Bank and Hilbert Capital are at the forefront of integrating Bitcoin into the broader financial landscape, providing sophisticated investment options for institutional and professional investors.
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