Giant Crypto Hedge Fund Boosts Sales Despite Terra (LUNA) Crash!

Terra’s (LUNA) holding the collapsed token as the main holding Digital Assets Fund Arcaof now 191.7 million-dollar sales volume.

Crypto Hedge Fund Arca Nearly Doubles Fund Sales Despite Terra (LUNA) Effect

Arca, a crypto hedge fund with nearly $500 million in assets under its management, has come close to doubling the sales of its flagship fund in a year, even after telling investors it was affected by the Terra crash in May.

In a filing with the U.S. Securities and Exchange Commission this week, the firm said the Arca Digital Assets Fund, which invests in crypto companies’ tokens, will be released in early October 2021. 109 million dollars As of October 24 191.7 Million dollars He said he collected

The number of investors in the fund that is still open to new investors, at the time of applications 333‘skin 576rose to .

According to Arca’s Investment Advisor registration documents, Arca Digital Assets Fund as of June 30 $234.3 million had a gross asset value.

In an investor letter sent in May, Arca explained that it was affected by the collapse of Terra’s native token LUNA and stablecoin TerraUSD (UST).

The algorithmic stablecoin lost its peg to the dollar in a dramatic crash, taking LUNA with it. Arca said that Digital Assets was holding Terra at the time of the letter and still foresees an improvement for Terra tokens.

According to the firm’s website, Arca manages three other funds built on the framework of the Digital Assets tool.

These are actively managed and are using Terra’s UST as the main holding. Arca Digital Yieldfocused on early stage venture capital Arca Endeavor and for non-fungiable token risk Arca NFT.

The funds had a gross asset value of $53 million, $10 million and $24.4 million, respectively, at the end of June.

*Not investment advice.