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Crypto Fund Seals Coinify Partnership

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Cryptocurrency hedge fund ARK36, managed by an all-Danish team, has announced a partnership with virtual currency platform Coinify to ensure the best execution of orders across multiple trading venues. The Danish founders Ulrik Lykke and Mikkel Mөrch, joined by Jacob Skaaning (pictured left) and Marck Bertelsen (pictured center), launched the crypto-focused hedge fund in October to deliver risk-adjusted exposure to crypto-assets for professional investors.

According to an announcement, Denmark-headquartered Coinify will provide its institutional trading services to ARK36. The partnership builds on the existing relationship between Coinify and the founders of ARK36, who have used Coinify’s services since starting on trading digital assets in 2012. “We know the team at ARK36 well and our established cooperation means that we are fully interoperable with them and able to provide a fast and effective service to the benefit of their clients,” says Rikke Staer, Chief Commercial Officer at Coinify. “Since 2014, we have been building our virtual currency platform, expanding our services across Europe, Asia, and other regions.”

“When we select our partners in the industry, we have a strong preference towards those with a solid track record, with a high level of security and compliance,” Ulrik Lykke, Co-Founder of ARK36, comments on the partnership. “As a service provider, Coinify is a good match on these parameters and, with the majority of our own core team being Danish nationals, it is natural that we select a partner with a strong foothold in the Danish market, whom we can grow with as we expand our hedge fund internationally.”

The all-Danish team, which manages the fund out of Larnaca in Cyprus, seeks to capitalize on the increasing recognition and acceptance of Bitcoin and other cryptocurrencies by maintaining exposure to the cryptocurrency market. Bitcoin is currently flirting with its all-time high of $19,783 reached in December of 2017 after a strong rally in the past few weeks. The recent rally has been partly fuelled by news that well-known investors such as Paul Tudor Jones and Stanley Druckenmiller added Bitcoin to their portfolios. Regulated as an Alternative Investment Fund with Limited Number of Persons (AIFLNP) by the Cyprus Securities and Exchange Commission, ARK36 has the flexibility to move the portfolio, partially or entirely, into cash-positions or even short the market. The team, however, has a positive outlook on cryptocurrencies and uses ARK36 as a vehicle to give professional investors exposure to crypto-assets.

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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

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