Swiss digital asset bank Sygnum Bank and Starboard Digital have raised over 750 bitcoin BTC$87,910.82, worth more than $65 million at current prices, for its BTC investment vehicle.
The BTC Alpha Fund, offered by Sygnum in partnership with Starboard, is designed to generate yield on its bitcoin holdings without relying on price increases.
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The Cayman Islands-domiciled fund delivered an 8.9% annualized net return in its first full quarter following its debut in October last year. It targets 8-10% annual BTC-denominated returns by capturing price differences between spot and derivative markets.
The fund avoids uses systematic arbitrage strategies, meaning it takes advantage of glitches in the prices of assets on different exchanges to try and
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