BlockTower Capital Buys ‘Market-Neutral’ Crypto Hedge Fund Gamma Point

BlockTower CEO Matt Goetz said the deal will help attract institutional investment – even in a bear market.

AccessTimeIconJun 8, 2021 at 9:27 p.m. UTC
Updated May 9, 2023 at 3:20 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Crypto hedge fund BlockTower Capital has acquired rival hedge fund Gamma Point Capital in a $35 million deal announced Tuesday.

In an interview with Bloomberg on Tuesday afternoon, BlockTower CEO Matt Goetz said his company’s acquisition of Gamma Point, which has a unique strategy of market-neutral investing that seeks profit in both bull and bear markets, is intended to help BlockTower better navigate the current market volatility.

  • Key Events You Shouldn't Miss at Consensus 2024
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    What's Next for FIT21?
  • BlockTower’s acquisition of Gamma Point Capital is one of many crypto-related acquisitions in recent months, along with deals like Galaxy Digital’s acquisitions of Vision Hill and BitGo. This purchase, however, could suggest BlockTower is preparing for the realization that crypto’s latest bull market may be over.

    Goetz believes that the market-neutral investment capabilities BlockTower gained in the acquisition will help the fund attract more price-sensitive institutional investors.

    Gamma Point’s executives will join the BlockTower team, tweeting: “We are incredibly excited to join the BlockTower Capital family and continue our journey to build the #1 market neutral fund for crypto.”


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.