Coin asset management firm CoinShares (CS) is venturing into the U.S. hedge fund landscape. The company, headquartered in St. Helier, Jersey, is set to offer a hedge fund unit tailored for qualified American investors, with the aim of providing institutional investors with actively managed exposure to digital assets, CoinShares said in an announcement on Friday.
CEO Jean-Marie Mognetti termed this move as “a logical step forward,” citing the evolving macroeconomic landscape, particularly driven by interest rates and inflation.
“Backed by a decade-long legacy in the digital asset industry and a team with more than two decades in hedge funds, the new division signifies the latest step in CoinShares’ evolution,” he said.
CoinShares’ hedge fund head, Lewis Fellas, stated, “The resurgence of interest rate-induced volatility is a promising opportunity that we intend to leverage through our innovative fund offerings. Each product we offer is meticulously designed to minimize counterparty risk while delivering clearly defined asset class and strategy exposures.”
A July report by accounting firm PricewaterhouseCoopers (PwC) revealed that the percentage of traditional hedge funds investing in crypto assets had declined from 37% to 29% in the preceding 12 months. It also noted that nearly a quarter of hedge funds were reevaluating their strategies due to the regulatory environment in the U.S., with approximately 12% contemplating a move to more crypto-friendly jurisdictions.
