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New York Hedge Fund Brings in Over $5m in Bitcoin Deposits

Avatar newsbtc 6 years ago

New York Times SquareA hedge fund based in New York by the name of NYSO HEDGE and specializing in “high risk, high return” investments has revealed that it has accepted roughly $5.4 million in bitcoin deposits.

This news follows an initial announcement by the fund to begin accepting bitcoin for deposits on the 7th of February — so it’s taken just about three days for them to amass that amount from bitcoin holders.

“NYSO HEDGE’s own Risk management team (due to these circumstances), has deemed bitcoin deposits as safe as wire transfers with careful research and considerations.”

NYSO applied to get regulatory approval in order to accept bitcoin in June of 2013, and it’s taken up until now to get approved.

Each of NYSO HEDGE’s accounts require a $25,000 minimum investment, and options range from managed accounts, certified investor accounts, and margin accounts.

[Full Report – CoinDesk]

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