Markets
Cryptocurrency Investment Firm Hypersphere Unveils $130 Million Marketplace Fund Called Atlas
Cryptocurrency investment firm Hypersphere has unveiled a new fund with $130 million in assets under management (AUM) that will use 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 comprised of former employees of high-frequency trading firm Millennium and hedge fund Bridgewater, according to an emailed statement Wednesday.
Hypersphere intends to use the multi-manager approach used by Millennium and Bridgwater to provide investors with niche trading strategies while maintaining low volatility.
Atlas also aims to allow investors to get in and out quickly through its liquid, open-ended fund structure.
Hypersphere founder Jack Platts described Atlas as “two bets in one”: the first is to offer a diverse set of trading strategies, and the second is to find attractive opportunities in the cryptocurrency markets.
“Our hope is that the combined effect of these elements will allow us to create a product where we have the advantage of being in crypto, participating in the growth of the asset class, as well as minimizing volatility through better liquidity and offering stable, consistent returns,” Platts said in an interview.