Coin Capital Management, led by Samuel Cahn and Drew Sommer, has launched a new fund for institutional investors looking to buy and hold Bitcoin.
The New York-based venture, to be known simply as Coin Capital Partners, will use SS&C Technologies for its fund administration needs and KPMG for auditing, and leverage its founding partners' previous experience in both arbitrage and event-driven investing, electronic gaming and currency mining.
“Coin Capital Partners will allow traditional hedge fund investors to take a long-term bullish stance on the value of the Bitcoin. Our mission is to bring hedge fund industry best practices to the emerging virtual currency asset class. Coin Capital has engaged recognized third-party service providers to meet the high standards demanded by institutional investors," Cahn says.
The move is the latest in a steady stream of boutique buy-side shops and carveout funds entering the cryptocurrency fray.
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