Avenue Investment Crypto has launched the first cryptocurrency hedge fund in Spain. The investment product has been registered in Malta and will be headed by prominent crypto proponent Martin Huete. He has been appointed as the institutional relations manager amid the commercialization phase of the crypto hedge fund. Even though Avenue Investment Crypto has just launched the product, it was originally created by the firm back in 2019. Investors Need to Hold Assets for $904,900 for Using the Crypto Hedge Fund The hedge fund caters only to those investors whose minimum investment starts at 100,000 or $120,600 euros. However, a condition for joining the hedge fund includes proving to the firm that the users hold assets for 750,000 euros ($904,900). The total exposure of the crypto fund ranges between 40% and 100% within the portfolio offered by the firm. The firm allows investments in cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC) among others. The cryptocurrency hedge fund will be managed by Arne Vaagen and Francisco Gordillo. In 1999, Vaagen co-founded the hedge fund Futuris with Brummer & Partners with over 1,300 million euros under management. While Gordillo has over 25 years of experience in the banking sector. According to the firm, Gordillo has been researching cryptocurrencies since 2012. Commenting on Spain’s first crypto hedge fund, Gordillo said: What we propose to the investor is that they keep a plot of the future; it is like investing in Wall Street in its founding moments, taking a position on the foundations of the future. Avenue Investment Crypto Hedge Fund Aims to Collect $122 Million Initially, the cryptocurrency hedge fund will be promoted across Spain, Portugal, and North Europe. Eventually, it will move on to target Latin America and the rest of Europe. By the end of the year, Avenue Investment Crypto intends to collect almost $122 million. At the time of writing, the crypto fund has already raised over $24 million.
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