Digital asset manager Osprey Funds has plans to launch an institutional-oriented fund for investments in the non-fungible token (NFT) segment in early 2022.
According to a press release shared by Osprey Funds, the company has established a new structure, Osprey Alpha, LLC. Within its framework, they plan to launch actively managed funds aimed at institutional and wealthy investors. The company CEO Greg King said:
“We are in business to provide investors with access to the most exciting segments of the digital asset ecosystem. With the Osprey Alpha, we will focus on developing and implementing several unique, actively managed strategies for savvy investors, starting with an NFT-focused product.”
Justin Paterno, former COO of the StockTwits platform, will be the managing director and portfolio manager of the Osprey NFT Fund. He will develop and implement the investment strategy of the fund.
King has noted that over time, funds managed by Osprey Alpha could raise “hundreds of millions of dollars.” In his opinion, NFTs represent a new asset class that has a low correlation with cryptocurrency and traditional markets.