UK-based deVere Group has reportedly launched an actively managed cryptocurrency fund.
According to the press release published on the company website this Thursday, the new crypto instrument called deVere Digital Asset Funds represents a joint venture with Dubai-based Dalma Capital Management dealing with hedge funds management.
Nigel Green, founder and CEO of deVere Group said:
“Cryptocurrencies are now undeniably part of mainstream finance...Their momentum continues to gain traction as both retail and institutional investors increasingly value the need and demand for digital, global currencies in today’s ever-more digitalised and globalised world."
According to the UK company, the new fund will offer investments in "diversified portfolio of digital assets" making use of algorithmic trading on crypto exchanges and OTC platforms. Moreover, the new solution is said to provide arbitrage opportunities.
Notably, with arbitrage traders can make a profit with just small or no directional market risks. Specifically, such trading supposes buying on one platform for further sale on the other one at a higher price.
“Arbitrage opportunities abound – the prices of the top 25 crypto assets vary across over 400 liquidity venues. The ability to trade long and short allows profit opportunities regardless of market direction,” noted Zachary Cefaratti, CEO of Dalma Capital.
DeVere has been taking active steps in the crypto sector this year. In particular, it put into service crypto app deVere Crypto early this year.