About $35 million worth of bitcoin was bought recently by hedge funds and other investment funds according to filings with the Securities and Exchanges Commission (SEC).
A small amount, but it has been zero for quite some time, with this change so potentially indicating that big investors are back to cautiously buying.
The Jagger Fund by BXE CAPITAL raised $22.25 million from 96 investors with a minimum investment of $250,000.
The fund, launched in 2017, aims “to invest the Fund’s assets on a long-term basis in cryptocurrencies, such as Bitcoin, altcoins, and Initial Coin Offerings.”
So they basically bought bitcoin, as did the Warberg Crypto Fund of Warberg Asset Management.
They raised $12 million from 12 investors with a minimum investment of $500,000 each.
Little more is known about them except they offer portfolio management and advisory services to private investment funds and separately managed accounts.
Compared to half a billion and even a billion a week in late 2020, early 2021, these sums are small, but it has been quiet for so long on this front that any sums moving is now noteworthy.
That’s especially as bitcoin may be in a changing trend after hitting $17,000, reaching levels where buyers may return, especially family offices.