TechFlow reported, according to Bloomberg, that digital asset management firm Metalpha plans to launch a $100 million fund to invest in Bitcoin and other cryptocurrency products from Grayscale Investments LLC, offering Chinese investors interested in crypto a regulated channel for participation.
Adrian Wang, president of Metalpha, said the licensed digital asset wealth management firm—formerly known as Dragon Victory International—has raised $20 million for its new fund since March.
Headquartered in Hong Kong, the company had previously considered relocating but decided to remain after Hong Kong unveiled plans to become a cryptocurrency trading hub. The new fund is initiated by NextGen Digital Venture and led by Jason Huang, from Blue Pool Capital, the family office of Joe Tsai, co-founder of Alibaba Group Holding Ltd.
The fund’s primary appeal lies in providing Asian investors with traditional finance backgrounds a legal and compliant pathway to access the Web3 space—the decentralized version of the internet built around blockchain technology.
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