Christian will be responsible for managing CrossTower's U.S. and global exchanges, product expansion, and its transaction business.
The fund is starting out with $20 million in AUM, largely from family offices, and touts lower fees than the Grayscale Bitcoin Trust.
“Ultimately we end up with something that looks and feels a little bit like what you see in the prime brokerage space.”
Non-U.S. clients can still trade the token but need to pre-fund all short trades, the report said.
CrossTower has raised $6 million in seed funding, with entrepreneur Gerard Lopez leading the round.