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Bitfinex welcomes a $280 million hedge fund

Updated: Jul 25, 2024
Published: Mar 16, 2020
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Bitfinex, one of the largest crypto-currency exchange around the globe has welcomed a new institutional client: Fulgur Alpha. The latter is a crypto hedge fund based in the Bahamas with $280 million in assets under management (AUM).

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The press release positively covers the liquidity offered by the exchange and mentioned that during the -50% Bitcoin crash, the trading volume exceeded $2 billion in a single day. Additionally, the exchange offers a wide range of products, such as 5x margin on spot buying as well as perpetual swaps and its infrastructure also supports high-frequency trading (HFT).

"It is really rare that a fund of this size chooses to trade almost exclusively in a single location," said Paolo Ardoino, Chief Technology Officer at Bitfinex. "The onboarding of Fulgur Alpha cements Bitfinex's position as the go-to venue for major crypto funds, market makers and arbitrageurs.”

The fund whose assets are currently in Delchain’s custody is looking to increase its AUM throughout this year from professional investors.

"We're bringing a traditional fund set up to the crypto space, with a diversification of risk, making this a unique proposition that has not been seen before," said Bruno Macchialli, Executive Head of Operations at Delchain. "This represents a blueprint for institutional investment in crypto, leveraging the required liquidity and custody solutions."

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