A regulated platform for digital asset trading, Openfinance, has begun providing support for hedge fund Protos to its platform. The token, which will trade under the symbol PRTS, is one of the first crypto hedge funds to be traded on an alternative trading system (ATS).
According to the company, Openfinance “is the first U.S.-regulated digital security trading platform built for alternative assets.” The firm monitors multiple digital assets and is accessible to qualified US investors, as well as non-US investors that underwent verification. These investors will have access to Protos on the platform.
“We’re excited to bring the first tokenized hedge fund to the Openfinance platform,” said Juan Hernandez, founder of Openfinance. “The Protos Asset Management team has been working actively on their product offering for some time. While we currently have assets such as Blockchain Capital (a SF venture capital fund), hedge funds are a longstanding traditional asset class that are now available to investors in a digital format.”
Protos asserts to hedge on the volatility of cryptocurrencies, taking “profit opportunities in the digital token and cryptocurrency market while limiting losses and risk during periods of volatility or general market downturns.” The firm ran an STO in 2017.