Global macro hedge fund firm Graticule Asset Management Asia is taking a big step into crypto via the launch of its first hedge fund dedicated to trading exclusively digital-assets.
Sources said the firm has been marketing the vehicle, Graticule Digital Asset Fund, to prospective limited-partners in recent weeks. Its fundraising aspirations aren’t clear.
Indications are that Graticule, run by founder Adam Levinson, may have been exploring crypto strategies via its other hedge funds earlier. Indeed, the firm updated its annual SEC registration in March 2021, giving traders the ability to invest in “cryptocurrencies and related derivatives.”
A spokesperson for the firm did not immediately return a request for comment.
Headquartered in Singapore, Graticule focuses on global macro strategies that predominantly play out throughout Asia, trading a mix of asset classes. The growing cryptocurrency community in Singapore could have played a role in the firm entering the space, one of the sources said. Sources were granted anonymity to discuss confidential business dealings.
Graticule has also been dabbling in the crypto venture-capital space. The firm was an investor in a recent $93 million round raised by The Sandbox, an online gaming world based on non-fungible tokens.
Graticule had about $2.6 billion of assets under management as of February of this year, the latest data available. That makes the firm the latest multi-billion hedge fund player to start trading crypto.
Other notable asset managers investing in or looking to make a jump into the crypto space include Bain Capital, Balyasny Asset Management, Boothbay Fund Management, Millennium Management, Point72 Asset Management and Soros Fund Management.