LedgerPrime has sold $49.5 million worth of securities for their fund to invest in bitcoin and ethereum according to a filing with the Securities and Exchanges Commission (SEC).
The purchase was by nine clients with Shiliang Tang, the company’s President and Chief Investment Officer, telling Trustnodes they serve institutional investors.
The company describes itself as “a quantitative and systematic digital asset investment firm” with it established in 2017.
Tang says their focus is on quantitative, systematic strategies with high sharpe and low drawdown.
“This $50M offering was into our fund which we use to trade our quantitative strategies in BTC/ETH and other tokens, not simply just to buy and hold BTC/ETH” Tang said.
“We invest mostly in btc/eth but trade all cryptos,” Tang says, with this purchase by institutional investors indicating there’s a return of interest after the February correction.
Article updated with further clarification on this $50 million