Crypto brokerage platform Abra has opened Abra Capital Management (ACM), which it said is intended to give clients access to actively managed, structured products and investment funds.
- ACM launched with plans for five funds, three of which will target yield-generating opportunities in stablecoins, bitcoin (BTC) and ether (ETH), and two others that will target early stage token and equity investments, the company said in a statement.
- “As investor appetite for access to the emerging digital asset economy has skyrocketed, so has the demand for solutions that can help them diversify their exposure and invest in high-growth, yet relatively inaccessible, vehicles,” Abra founder and CEO Bill Barhydt said in a statement. “Most exchanges and crypto platforms are limited in the solutions they can offer.”
- Marissa Kim, who recently joined ACM as a general partner, will lead the new business. She previously founded Quantum Global Management, an investment firm focused on thematic investments in the Web 3 space. Barhydt will serve as chief investment officer.
- ACM’s funds require a minimum investment size of $250,000.
- In September, Abra raised $55 million in Series C funding to develop new offerings geared toward high-net-worth and institutional clients.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.