August 30, 2019 Noted hedge fund manager Alan Howard to launch a $1 billion crypto fund-of-funds, aiming to expand curated access to crypto among institutional investors.

The venture will apply rigorous due diligence processes to select the crypto funds, across a range of metrics including risk management, custody procedures, and manager background. Crypto hedge funds have reported average gains of 60% YTD; Bitcoin has risen 170% over the same time period.