Podcasts Technology Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News 427: BITCOIN HITS $24K ATH!! $1 BILLION IN BTC AND ETHEREUM: ONE RIVER HEDGE FUND TO INCREASE HOLDINGS!!

427: BITCOIN HITS $24K ATH!! $1 BILLION IN BTC AND ETHEREUM: ONE RIVER HEDGE FUND TO INCREASE HOLDINGS!!

Published: Dec. 20, 2020, 1:47 p.m.

One River Asset Management has bought more than $600 million in Bitcoin and Ethereum, Bloomberg reported Wednesday.

The company has two cryptocurrency funds: the Bitcoin (BTC) Fund and the Ethereum (ETH) Fund.

Founded by CEO Eric Peters in 2013, One River oversees about $1.6 billion in total assets under management.

Peters said that he set up a new company to focus on cryptocurrencies for institutional investors.

In addition to its initial purchases, he said: One River Digital Asset Management has commitments that will bring its holdings of bitcoin and ether to about $1 billion as of early 2021.

“There is going to be a generational allocation to this new asset class. The flows have only just begun,” Peters was quoted as saying.

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