A $100 million investment fund is “10 years long” on Ethereum 🚨 This article is 5 years old...
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A $100 million investment fund is “10 years long” on Ethereum
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Updated: Nov. 7, 2019 at 2:43 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
DARMA Capital, a $100 million investment firm heavily invested in Ethereum, is opening to investors who want to go long on cryptocurrency, as first reported by Bloomberg.
DARMA Capital is going all-in on cryptocurrency. The firm’s flagship fund is an Ether-heavy portfolio with $100 million in digital assets under management. The fund’s goal is to continue accumulating Ethereum at 1 percent of the fund’s holdings per month.
The fund is helmed by a number of high-profile executives from ConsenSys, a blockchain technology conglomerate created by Ethereum co-founder Joseph Lubin. As DARMA’s first corporate client, Lubin has high expectations for Keys’ appointment.
“As a foundational member of ConsenSys Solutions, Andrew was a key driver in opening up the Ethereum ecosystem to enterprise,” said Lubin. “I expect Andrew’s new role at DARMA will enable him to continue his work in strengthening and fostering communication and cohesion in our ecosystem.”
Keys co-founded ConsenSys Capital and the Enterprise Ethereum Alliance and operates DARMA Capital as a managing partner. Other partners include ConsenSys alumni James Slaza, the former head of Capital Markets—and John Slaza, the founder of JS Services, a quantitative trading analytics company.
Unlike ConsenSys, which is focused on the technical aspects of the Ethereum blockchain, DARMA Capital, under Keys, is focused on the “financial aspects” of the platform.
The fund is registered with the CFTC as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA). Only accredited investors, family offices, and institutions can participate in the fund.
DARMA plans to launch a second fund for Bitcoin in the coming months. A third fund for Filecoin is planned for 2020.
Ethereum Market Data
At the time of press 2:43 am UTC on Nov. 7, 2019, Ethereum is ranked #2 by market cap and the price is up 1.53% over the past 24 hours. Ethereum has a market capitalization of $26.78 billion with a 24-hour trading volume of $8.23 billion. Learn more about Ethereum ›
Crypto Market Summary
At the time of press 2:43 am UTC on Nov. 7, 2019, the total crypto market is valued at at $258.31 billion with a 24-hour volume of $66.16 billion. Bitcoin dominance is currently at 55.39%. Learn more about the crypto market ›
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Ethereum
$3,146.46
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Consensys
Consensys is a venture production studio and custom software development consultancy building decentralized applications (DApps), enterprise solutions and developer tools for blockchain ecosystems, focused primarily on Ethereum..
Joseph Lubin, a Canadian entrepreneur, has made significant strides in the world of blockchain and cryptocurrency.