LedgerPrime invests $50 million in bitcoin (BTC)

LedgerPrime has sold $49.5 million worth of securities for its fund to invest in Bitcoin and Ethereum, according to the SEC.

LedgerPrime has sold $49.5 million worth of securities to invest in digital assets, according to a filing with the SEC. The firm’s president and chief investment officer, Shiliang Tang, revealed that nine clients made the purchase.

Ayesha Kiani, VP of Business Development, recently spoke at SXSW 2021, and the topic of discussion was the development of the crypto derivatives market. She elaborated on various aspects of mainstream crypto adoption. She also stressed the importance of Defi firms working together to make adoption faster and more efficient:

“We are all striving for the same goal. Currently, Defi is about 1% of what CeFi (centralized finance) is. By 2022, Defi is expected to have about 10 million users. We’re here to help… at the end of the day, we all have the same goal of cryptocurrency being widely used.”

Recently, LedgerPrime has made some interesting moves in the crypto space. A few days ago, the company bought the T3i BitVol Index. The index has often been called a “fear gauge” for bitcoin by experts. It tracks the market movements of the digital asset.

Shiliang Tang, chief investment officer for LedgerPrime, spoke to the Crypto and Muay Thai podcast last year.

LedgerPrime was founded in 2017 and describes itself as “a quantitative and systematic digital asset investment firm.” The company is owned by Ledger Holdings Inc., which is also the owner of LedgerX.