Osprey Funds to Launch NFT-focused Investment Vehicle
- The firm has previously launched four funds: Osprey Bitcoin Trust, Osprey Solana Trust, Osprey Algorand Trust and Osprey Polkadot Trust
- Osprey has hired former Stocktwits executive, Justin Paterno, as managing director of the NFT fund
Osprey Funds, one of the largest cryptocurrency investment firms, announced plans to launch a non-fungible token (NFT) fund on Thursday.
Dubbed “Osprey Alpha”, the NFT-focused investment vehicle will allow high-net worth individuals and institutional investors exposure to funds that invest in NFTs including assets such as gaming, art and a variety of digital collectibles.
“We’re in business to provide investors with exposure to the most exciting segments of the digital asset ecosystem,” Greg King, CEO of Osprey Funds, said in a statement. “With Osprey Alpha, we will focus on the development and rollout of several unique, actively-managed strategies for sophisticated investors, beginning with our NFT product.”
Additionally, Osprey has hired former Stocktwits executive and NFT collector, Justin Paterno, as managing director of the fund. Paterno will design the fund’s investment strategy, according to a press release.
“I see similarities between NFTs now and the early days of Web 2.0. Communities and networks have always been a major driver of value on the web — which increasingly defines culture,” Paterno said.
“NFTs allow communities to own the cultural capital they create. There is immense growth potential here.”
The Connecticut-based firm previously launched four other funds including Osprey Bitcoin Trust, Osprey Solana Trust, Osprey Algorand Trust and Osprey Polkadot Trust.
“At Osprey, I think, at a fundamental level, we fully believe in the power of blockchain-based technologies. Period. We’ve set ourselves up to both invest and help others invest in those technologies for the benefit of their long-term investment portfolios,” King previously told Blockworks.
Osprey Alpha is slated to launch early next year, according to the press release.
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Morgan ChittumMorgan Chittum is a New York-based reporter covering markets, NFTs, the metaverse and digital assets. Before Blockworks she was a street reporter at New York Daily News, where she wrote about homicide, extremist groups, state politics and other critical topics in New York. She was a Media and Journalism Fellow at the Poynter Institute, where she dabbled in data and investigative journalism. She is published in American Banker, Yahoo News, Chicago Tribune and more.
