This Singapore Hedge Fund Unit Is Raising Money for a Crypto Arbitrage Fund

Data cables sit in a bundle at a cryptocurrency mining facility in Incheon, South Korea, on Friday, Dec. 15, 2017. Hedge funds are pulling out of gold bets as more exciting moves in equities and cryptocurrencies make safe-haven investments look boring.Photographer: SeongJoon Cho/Bloomberg

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By Yoolim Lee

January 18, 2018 at 11:00 PM UTC

This article is for subscribers only.

As Bitcoin continues its wild ride, a Singapore hedge fund unit is raising $10 million for a cryptocurrency arbitrage fund to trade off price movements.

Kit Trading, a unit of Vulpes Investment Management, said the fund is on track to close early next month.