Wall Street hedge fund veteran launches Hong Kong’s first regulated crypto hedge fund

By Staff Reporter

Clipper Coin Capital and Axis Capital Management Limited has launched Clipper Axis Digital Asset Fund, a new multi-strategy cryptocurrency hedge fund, which is also one of Asia’s first crypto-only hedge funds.

It’s Hong Kong’s first hedge fund regulated under the Securities and Future Commission’s digital asset framework announced on November 1.

“The fund will deploy time-tested hedge fund strategies to the new cryptocurrency market,”  Zhen Liu, CFA, founder of Clipper Coin and a Wall Street hedge fund veteran, told Blockchain Asset Review.

“We have adapted multiple arbitrages and quantitative strategies to major cryptocurrencies and their derivatives with notable success.

Liu believes that with few professional hedge fund traders to competing in the crypto-market, his fund is able to deliver consistent and high absolute returns.

After the recent release of the regulatory framework on virtual asset by Hong Kong Securities and Futures Commission, CCC has been working with Axis Capital, an SFC-registered asset manager based in Hong Kong, to launch Clipper Axis Digital Asset Fund.

“The Fund will leverage CCC’s strong track record in crypto hedge fund and experienced team, and Axis Capital’s well-established regulatory and marketing expertise, to offer global institutional investors an early access to the emerging crypto asset class,” Axis Capital chief executive George Yu said.

“Hong Kong is one of the global financial centers, has a strong record for rule of law,” said Jay Liang,  a PE professional with over 25 years in experience from Wall Street to the Asia Pacific. “Recent SFC regulatory framework on virtual assets by SFC has positioned Hong Kong to become a global center of blockchain innovation and virtual asset investments.”

Liu had a long tenure on Wall Street running multi-billion hedge portfolios for DE Shaw, Brenan Hovard, UBS and Bank of America. Amongst his track record after returning to his native China include starting mainland’s first hedge fund.

He has been an avid proponent of introducing traditional hedge fund strategies, including short-selling, to the crypto asset market.

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