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.

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

Stephen Alpher.


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