Silver Castle Ltd., the Middle Eastern country’s first crypto investment company, has launched two new funds this month. The funds would be provided to the accredited investors.
In spite of a bad year of cryptocurrencies, the firm anticipates having around $50 million under the management by the end of 2018. Currently, over 370 crypto funds are managing across $10 billion in assets, according to Bloomberg.
The CEO at Silver Castle, Eli Mizroch says –
“We spent close to a year building the robust infrastructure for managing other people’s money at the level of institutional grade with very, very high security.”
Silver Castle Ltd. has a few highly credible names from the financial service industry of Israel as part of its team that includes Zvi Ziv, former CEO of Israel’s largest bank by assets ‘Bank Hapoalim’, and Gabriella Ravid, former CEO and founder of the country’s largest investment fund ‘Psagot Ofek Investment House.
Israel’s Growing Blockchain Ecosystem
The firm’s launch was termed as a landmark event for the whole Israeli market by Gadi Isaev who is the founding partner of Israeli Blockchain Association. Also, Isaev spoke highly of the management team calling them leaders as well as pioneers of the Israeli financial industry.
As indicated by Mizroch, the nation’s blockchain ecosystem played a significant role in the decision to build the investment business. The blockchain firms in Israel have developed to 129 from a small 42 back in 2015.
The country has hosted over 40 ICOs in the last couple of years, 3 of those have been noted as being the 20 largest in the world.
The first fund from Silver Castle Ltd is both long as well as short momentum drove depending on an algorithmic trading system which trades the 4 largest digital currencies by market capitalization.
It is even reported that the firm firstly tested the platform in-house and experienced high double-digit return in dollar terms in spite of the bear market.