- Metalpha raises $100M for crypto
- Grayscale partnership enables access
- Chinese investors find a regulated route
In a bold move, Metalpha Technology, a Hong Kong-based crypto wealth manager, has announced its strategy to unlock access to Bitcoin and Web3 for Asian investors.
With a massive fundraising goal of $100 million, Metalpha aims to collaborate with Grayscale Investments, the US-based crypto titan, to provide new avenues for investment in digital currencies and Web3 for the Asian market.
The groundbreaking Next Generation Fund I, launched in partnership with NextGen Digital Ventures, promises to provide a regulated and secure entry point for Chinese investors.
The fund will capitalize on Grayscale’s crypto offerings, investing directly in their products and leveraging structured derivatives to grant institutional investors and high-net-worth individuals indirect exposure to the crypto market.
Metalpha’s CEO, Adrian Wang, proudly announced that the fund has already amassed $20 million since March, with strong interest from Chinese investors seeking a legitimate pathway into the world of cryptocurrencies.
In other news, Elon Musk, CEO of SpaceX, Tesla, and Twitter, has exhibited contradictory behavior regarding artificial intelligence (AI), as evidenced by recent events. Musk appears to be advancing AI incorporation within Twitter. Musk led an open letter to halt AI development due to potential threats to society.
