The Crypto Asset Fund has raised $18.14 million from 42 accredited investors whom have contributed a minimum of $100,000 each.
The fund run by Timothy Enneking aims to invest in a diversified pool of digital assets and currencies.
“We can actually now apply much more sophisticated tools to a portfolio of investments,” Enneking said back in 2017, with this fund so continuing to run five years on.
No detail is provided in regards to just what this $20 million will be invested in. They have a Crypto Asset Fund II managed by Invermaster which focuses on startups, but the fund in question “takes a mid-long position in digital assets.”
That’s after a recent spike in crypto prices has investors wondering whether the so called crypto winter is starting to thaw.
It following a four months long sideway has given more confidence to such suggestions, with institutional or accredited investors also starting to make a return of sorts.
They bought close to a billion dollars worth of bitcoin and eth at the beginning of the month, with it then turning quiet again until this raise.
Source: https://www.trustnodes.com/2022/10/27/crypto-fund-raises-20-million