Bitmain Invests $5 Million in Grayscale-Based Fund: Metalphas Next Generation Fund I

Bitmain Invests $5 Million in Grayscale-Based Fund: Metalphas Next Generation Fund I


Bitmain invests $5 million in Hong Kong asset management company Metalpha’s Grayscale-based fund.

Bitmain is the world’s largest manufacturer of cryptocurrency mining rigs.

Hong Kong investment management company Metalpha has secured $5 million for its Grayscale-based fund from Bitmain, reports by a source next to the company.

Metalpha is looking to raise $100 Million for the Next Generation Fund I, which it has formed in partnership with NextGen Digital Deal Limited. As of the end of March, Metalpha has raised $20 Million towards that goal. The fund invests in Grayscale products through structured derivatives, granting access to mainstays of digital investment portfolios in a way that is compliant with United States and Hong Kong laws.

Grayscale is owned by Digital currency Group, CoinDesk’s parent company.

READ NOW
Bitcoin Price Bounces Above 21 Weekly EMA: Is It Time for Risk-On Altcoins and Meme Coins to Shine?

Metalpha is partly owned by Antalpha, an financing company affiliated with Bitmain, which is the world’s largest manufacturer of mining rigs.

Stephen Alpher.

Source

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend