Per a press release, leading crypto wealth management platform Abra will enable its high-net-worth to access the Web3 and digital ecosystem with its new asset management strategy. Called Abra Capital Management (ACM), this product will provide its clients with trading and borrowing services and “actively managed investment funds”.
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According to the release, the fund will be managed by Marissa Kim, General Partner at Abra’s new division for this product. In addition, this new initiative will have Bill Barhydt as Chief Investment Officer (CIO) and General Partner.
Barhydt is one of Abra’s founders and currently operates as the company’s CEO. The release claims that ACM will offer access to five different funds.
A portion of these will focus on yield generating opportunities in the crypto market. Specifically, the funds will seek Bitcoin, Ethereum, and stablecoin-based opportunities. A second portion will seek to invest in early-stage token and equity investment opportunities, the release claims.
The Abra initiative will also provide their institutional clients with early access to Web3 protocols and companies building on this digital asset ecosystem. This product will operate as a venture fund and will target Web3 computing stack, decentralized finances (DeFi), and liquid token strategies, the release clarified.
The company has been working in the crypto space for a long time in different roles. Via its products, its clients have been able to gain exposure to Bitcoin and other cryptocurrencies. Thus, the release said, it has the capacity to lead its institutional investors into the new frontier: Web3 and DeFi.
As mentioned, Marissa Kim, General Partner at Abra, will manage ACM. Kim is a lawyer and worked closely with asset manager titan BlackRock before she was involved in the crypto space. She has collaborated as an advisor to “many Web3 projects”, the release claims. Kim said:
Abra is the premier, full-service digital asset service provider, which made my decision to join the team and help lead Abra Capital Management an easy one. I am thrilled to be part of an incredibly unique and differentiated platform and look forward to working with Bill and the Abra team to further the firm’s goal of becoming the number one destination for every type of cryptocurrency investor.
Institutions Want Exposure To The Web3 Ecosystem, Can Abra Meet The Demand?
The Abra Capital Management (ACM) will serve as a complement to the company’s high yield services, the release said. Bill Barhydt added the following on the current state of the crypto market, and the limitations on current products:
As investor appetite for access to the emerging digital asset economy has skyrocketed, so has the demand for solutions that can help them diversify their exposure and invest in high-growth, yet relatively inaccessible, vehicles. Most exchanges and crypto platforms are limited in the solutions they can offer.
ACM is a direct response to these limitations, the initiative was created to meet a specific demand amongst investors. Barhydt added:
Abra Capital Management was created to fill this gap and help high net worth investors easily and efficiently invest in structured vehicles across the entire digital asset landscape. This is a milestone for our company, our customers, and the industry at large, and we look forward to working with investors to take advantage of the tremendous opportunity in this space.
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At the time of writing, the crypto total market stands at $2,11 trillion with sideways movement on the daily chart.
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