Osprey funds to establish NFT fund with new Alpha division
US crypto investment company Osprey Funds announced on Thursday that it is ready to launch an NFT investment fund for institutional investors. The investment fund targets a wide range of NFT assets, including art, collections, and in-game assets.
The fund, set to launch in early 2022, will be launched under the company’s new subsidiary Osprey Alpha, LLC, a division founded to offer actively managed funds for institutions and high-net-worth investors.
“We’re in business to provide investors with exposure to the most exciting segments of the digital asset ecosystem,” said Greg King, CEO of Osprey Funds, in the company’s press release. “With Osprey Alpha, we will focus on the development and rollout of several unique, actively-managed strategies for sophisticated investors beginning with our NFT product.”
The size of the NFT fund is uncertain. However, King told media outlet The Block that the fund size could reach “hundreds of millions of dollars.” In addition, he noted that NFT investment is attracting attention as a new type of asset that has little correlation with the stock and cryptocurrency markets.
Osprey is a New York-based crypto investment firm with several investment trusts under its belt, offering exposure to several crypto assets such as Bitcoin (BTC), Polygon (MATIC), Solana (SOL), and Polkadot (DOT).
The company has hired former Stocktwits executive and early NFT collector, Justin Paterno, to manage and implement new strategies for the NFT fund. He will be joined by Ashley Levin as Managing Director of Corporate Strategy, and Aga Kuplinska as Senior Vice President of Product Development.
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