Cryptocurrency investment manager Tim Enneking is seeking to raise as much as $400m for a new fund.
New filings from the US Securities and Exchange Commission reveal that Enneking is launching the “Crypto Asset Fund”, registered in the state of Delaware. CNBC first reported the news.
According to that filing, no equity sales in the fund have been made. The minimum amount required by outside investors to gain a stake is $5,000, the filing notes.
Enneking told CNBC that the fund will be aimed at investing in a broader subset of digital currencies and blockchain assets. He also said that, as it stands, he has been fielding interest from institutional investors looking to gain a stake in the market.
Image via Shutterstock