Hong Kong Asset Manager Metalpha Secures $5M from Bitmain for Grayscale-Based Fund

Hong Kong plus absorption institution Metalpha has secured $5 million for its Grayscale-based fund from Bitmain, according to a root adjacent to the company.

Metalpha is looking to rise $100 cardinal for the Next Generation Fund I, which it has formed successful concern with NextGen Digital Venture Limited. As of the extremity of March, Metalpha has raised $20 cardinal towards that goal. The money invests successful Grayscale products done structured derivatives, granting entree to mainstays of integer plus portfolios successful a mode that is compliant with U.S. and Hong Kong laws.

Grayscale is owned by Digital Currency Group, CoinDesk's genitor company.

Metalpha is partially owned by Antalpha, an concern steadfast affiliated with Bitmain, which is the world's largest shaper of mining rigs.