Crypto hedge fund Tetras Capital, popular for its skeptical position on the price of Ethereum, has decided to shut down, CoinDesk has reported citing sources.
According to these sources, Tetras Capital has lost 75% of its assets since its launch in 2017, which is the reason why it has decided to return the remaining funds to investors. The altcoins-focused fund, which was launched back in 2017, opened a short position in Ethereum in May 2018 at a price of $700, Tetras Capital founder Alex Sunnarborg said during an interview with Forbes.
According to reports provided by the US Securities and Exchange Commission (SEC), the fund had as much as $34M under management at some point. The funds were provided by 65 investors, each of whom contributed at least $100,000.
Last week it was known Prime Factor Capital, the UK's first licensed crypto fund, had decided to shut down due to declining interest in its services from institutional investors.
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