Markets
Cryptocurrency investment firm Hypersphere unveils $130 million market fund called Atlas
Cryptocurrency investment firm Hypersphere has unveiled a new fund with $130 million in assets under management (AUM) that will employ Wall Street-style strategies to generate returns from crypto assets.
The Atlas fund was launched in stealth mode in January, funded from Hypersphere’s balance sheet. It is made up of alumni from high-frequency trading firm Millennium and hedge fund Bridgewater, according to an emailed announcement Wednesday.
Hypersphere aims to employ the multi-manager approach used by Millennium and Bridgwater to provide investors with niche trading strategies while keeping volatility low.
Atlas also aims to allow investors to enter and exit quickly through its open-ended liquid fund structure.
Hypersphere founder Jack Platts described Atlas as “two bets in one”: the first is offering a diverse set of trading strategies, and the second is finding attractive opportunities in the cryptocurrency markets.
“Our hope is that the combined effect of this will allow us to create a product where we have the benefit of being in the crypto market, participating in the growth of the asset class, while also minimizing volatility through better liquidity and offering stable, consistent returns,” Platts said in an interview.