Metalpha is seeking to raise $100 million for Next Generation Fund I, which it created in partnership with NextGen Digital Venture Limited. As of the end of March, Metalpha had raised $20 million toward that goal. The Fund invests in Grayscale products through structured derivatives that provide access to major portfolios of digital assets in a manner that complies with US and Hong Kong law.
Metalpha has secured $5 million from bitcoin device maker Bitmain for a grayscale fund
