Digital asset trading platform Bitifinex has onboarded Fulgur Alpha, a $280 million Bahamas-based absolute returns crypto hedge fund in order to consolidate its position as a go-to place for institutional investors in the crypto space.
Fulgur Alpha’s launch on Bitifinex will put the hedge fund among the three biggest on an exchange, widely recognised as a leading liquidity provider in bitcoin.
Accessible only to professional investors, Fulgur Alpha aims to increase the size of its assets under management in 2020.
By onboarding the crypto hedge fund, Bitifinex secures its place as an exchange offering a robust trading infrastructure meeting institutional investors’ requirements.
While cryptoexchanges BitiMEX and Gemini briefly went offline last week due to market turbulence, which saw the bitcoin price plunge by 50 percent, Bitifinex managed to process trading volumes that exceeded $1 billion.
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One-stop shop for crypto
Paolo Ardoino, Chief Technology Officer at Bitifinex, says the it is really rare that a fund of this size chooses to trade almost exclusively in a single location.
“We are 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,” says Bruno Macchiali, Executive Head of Operations at Delchain, a company providing financial infrastructure for blockchain businesses.
“This represents a blueprint for institutional investment in crypto, leveraging the required liquidity and custody solutions”, he adds.
Bitifinex’scalable, high-performance infrastructure and connectivity supports a variety of strategies, including High Frequency Trading (HFT).
Bitifinex is leveraging its position as a one-stop shop for crypto trading by offering a number of different services and access to a perpetual swap contract through its affiliate iFinex Financial Technologies Limited.