Hedge Closing Short Position in Ethereum (ETH) Closes

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Tetras Capital, a crypto hedge fund known for short positions in Ethereum (ETH), is reportedly closed. A report has been issued stating that Tetras Capital has been experiencing a loss of approximately 75% since its launch in 2017, and that it has returned money to investors.

Short Position in Ethereum (ETH)

Tetras Capital was established to trade on altcoins, but was later recognized with ETH short theses. In May 2018, the fund shortened ETH while the cryptocurrency traded around $ 700. Today, ETH is trading at about $ 320.

According to the information provided to the Securities and Exchange Commission, the New York-based fund was responsible for the management of $ 34 million in assets. The fund had about 65 investors, each with a minimum of $ 100,000 per filing.

Crypto Hedge Funds Are Closed One by One

The fund was led by former Raymond James analyst Alex Sunnarborg, former analysts in investment banks such as JPMorgan, Goldman Sachs and Deutsche Bank, Brendan Bernstein and Thomas Garrambone.

The closure of Tetras Capital follows the closing of Britain-based Prime Factor Capital last week. The country’s first licensed crypto hedge fund failed to attract institutional investors. In March, Adaptive Capital closed its doors after announcing damage.

According to Crypto Fund Research, about 70 crypto-focused hedge funds were closed last year. According to the research firm, there are currently 355 crypto hedge funds.

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