Israeli’s First Institutional Investment Firm, Silver Castle, Launches Two Crypto Funds
In a Bloomberg report, it was announced that Silver Castle, Israel’s first ever cryptocurrency investment firm for big investors, launched two crypto funds this month.
Pushing On In A Bear Market
Since the start of the year, crypto market has mostly been in a bearish state (baring the recent crash). For many people, this might seem that the market is slowing down. For Silver Castle, this means that institutional investors are now willing to invest in a market that has less volatility and lowered risks.
Bloomberg, using Autonomous Research data, reveals that the number of crypto funds offerings have increased. Today, there are more than 370 cryptocurrency funds that are invested to the tune of USD 10 billion in AUM. In Israel, the third quarter of 2018 had seen 140 companies bringing in USD 1.3 billion in investments and USD 600 million through ICOs.
Silver Castle is also one of those companies that now offer crypto oriented investments. Eli Mizroch, CEO of Silver Castle is confident that the market is perfect for large scale investments. He specially pointed out the strong blockchain industry the Jewish State had. According to Startup Nation Central, Israel’s blockchain industry has seen the amount of companies double in the last three years.
One, Two, Fund, Go!
The two funds offered by Silver Castle are based on simple economic mathematics. The first fund works on a specific algorithm designed for trading a mixture of short and long term strategies that taps into the varying prices of the top five digital currencies by market cap.
The second’s algorithm is on a weightage of top ten cryptos that is fully automatic.
There is also a report of token backed fund that will be dedicated to ICO that might be launched in the next month.
One the launch of the two funds, Israeli Blockchain Association’s co founder, Gadi Isaev was happy to see local financial industry’s big players finally entering the crypto market and was described as, “a landmark event for the entire Israeli market”.
Silver Castle, alone, is expected to have USD 50 million assets under management by end of 2018. The company already boasts a number of very prominent investors, such as the country’s largest bank, Bank Hapoalim’s CEO and even the largest conventional investment fund’s founder, Psagot Ofek.