SFOX (San Francisco Open Exchange) announced last week that it will launch separately managed account solutions for fund managers to create their own cryptocurrency portfolios.
These new services will be made available to traders, service providers and cryptocurrency hedge fund managers. In addition, any traditional asset managers who are interested in investing in cryptocurrency assets will also be able to use the new account solutions.
The goal of the new product is to allow clients to form their own customized investment strategies that will go along with tax-reporting solutions, making the portfolio decisions easier to manage.
The new service will allow for fund managers to cut operational costs, as well as to focus on their own investment strategies.
The tool is called Separately Managed Accounts Solution and it will serve primarily to create more time and relevant tools for investment managers to build out cryptocurrency businesses, as well as to tackle some of the greatest issues in the sector – operation costs. According to the official release from the company, managers now will have a one stop shop for their entire fund management workflow.
SFOX was launched in 2014, and is a prime dealer for businesses and professional traders to manage and trade their assets. Some of the product solutions SFOX offers include: advanced algorithmic order types, blockchain infrastructure support, liquidity for digital assets, cross-market execution platform and global market data analysis.
SFOX managed to raise $24 million in Series A funding from Tribe Capital, Blockchain Capital, Khosla Ventures, Social Capital and DCG. As per company statements, SFOX has more than 170,000 traders around the world and more than $11 billion in processed transactions since its foundation.
The company also stated:
For established fund managers, Separately Managed Accounts Solution provides an opportunity to make them more efficient at what they’re already doing and grow their services accordingly.
More about cryptocurrency funds can be found here: