Key points:
Timothy Enneking started a cryptocurrency fund in 2014 and now sees a diverse enough market to create a broader portfolio of smaller currencies and initial coin offerings that he expects to be in the tens of millions of dollars by the end of this year.
As for the Crypto Asset Fund's strategy, Enneking said he's broken the market up into six pieces, ranging from the "blue chips" valued at above $2 billion all the way down to the currencies with so little value that they don't trade.
- There are currently four cryptocurrencies that fall into the blue chips category: bitcoin, ethereum, XRP and NEM.
- 22 Cryptocurrencies fit in his large-cap group with coins outstanding valued at $200 million or more.
Crypto Asset is a trading fund, so it's not for the buy-and-hold investor. Enneking said that the minimum investment for the fund is $25,000 and that most of the institutions that are approaching him have between $100 million and $2 billion under management.
Enneking seems to use the latest crypto-frenzy to his advantage, but the fact remains that fresh money keeps flowing into cryptocurrencies. I'm definitely optimistic towards what the future will bring, what do you think?
CNBC: http://www.cnbc.com/2017/06/06/crypto-asset-fund-aims-to-raise-400-million-for-blockchain-deals.html
SEC filing: https://www.sec.gov/Archives/edgar/data/1708456/000170845617000001/xslFormDX01/primary_doc.xml