Add deVere Group to the companies offering cryptocurrency-based financial products.
The latest entry is a group of managed funds, Digital Asset Funds, which the British financial advisory firm is launching with Dalma Capital Management Limited, a Dubai-based hedge fund, the company said in a press release.
The Digital Asset Funds will offer a “suite” of digital currencies, the firm said. “These actively managed cryptocurrency solutions address growing demand by clients who want the potential associated benefits of exposure to the digital currency sector,” said Nigel Green, founder and CEO of deVere Group, in the release.
The fund will use algorithm-based trading “over different platforms, including crypto exchanges and over-the-counter markets as well as arbitrage opportunities,” the company said.
Cryptocurrency arbitrage describes the purchase of bitcoin or another cryptocurrency on one exchange and its sale at a higher price on a different exchange, and the profits generated from the transactions.
“Crypto Markets have created opportunities that we have not seen in conventional markets for decades,” Zachary Cefaratti, CEO of Dalma Capital, tells ThirtyK. “Arbitrage opportunities abound. The prices of the top 25 crypto assets vary across over 400 liquidity venues.”