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Metalpha Launches Grayscale-Based Digital Asset Fund

Hong Kong based Metalpha is launching a licensed fund in the territory that will give investors exposure to Grayscale's digital asset products, including the Grayscale Bitcoin Trust (GBTC), as well as the ability to redeem shares. Metalpha has named this fund as the "Next Generation Fund", and it is targeting a raise of $100 million with $20 million already committed since it began funding in March. Grayscale is owned by Digital Currency Group, CoinDesk's parent company. Metalpha is excited to integrate with NextGen Digital Venture, said Adrian Wang. Grayscale's crypto products have traded at a discount since March 2021 because of the widespread availability of bitcoin ETF.

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