Metalpha Adopts New Bitcoin Mining Index by Antalpha and FTSE Russell

Metalpha Technology Holding (NASDAQ: MATH) has announced the adoption of the Antalpha BTC Mining Index for its Bitcoin mining stocks fund.

Rhea-AI Summary

Metalpha Technology Holding (NASDAQ: MATH) has announced the adoption of the Antalpha BTC Mining Index for its Bitcoin mining stocks fund. This index, launched by Antalpha and FTSE Russell, selects the top ten publicly traded US Bitcoin mining companies. Metalpha's fund, managed by its subsidiary LSQ Capital , will use this index as a benchmark for investments.

The company, a major crypto derivatives trader in Asia, offers tailored wealth management and hedging solutions to financial institutions. Metalpha previously launched a GBTC fund that has seen significant gains, outperforming Bitcoin by about 39%. The new equity fund aims to provide investors with Bitcoin exposure through mining companies, responding to high demand for long-term growth opportunities in the Bitcoin mining industry.

Positive

• Adoption of Antalpha BTC Mining Index for Bitcoin mining stocks fund
• Previous GBTC fund outperformed Bitcoin by 39%, with NAV increase to 269.84%
• Company holds SFC licenses for securities, virtual assets dealing, advising, and asset management
• Expansion into Bitcoin mining sector, potentially diversifying revenue streams

Negative

• Dependence on volatile cryptocurrency market for business growth
• Potential regulatory risks associated with cryptocurrency-related financial services

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HONG KONG, Sept. 1, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) (the "Company" or "Metalpha"), a global digital asset-focused wealth management company, today announced it, through its subsidiary, has adopted the Antalpha BTC Mining Index for its BTC mining stocks fund. The index was recently launched by Antalpha and FTSE Russell.

Metalpha's Bitcoin mining stock fund is managed by a wholly-owned subsidiary of the Company, LSQ Capital Limited. The fund uses the Antalpha BTC Mining Index as the benchmark to invest in publicly listed Bitcoin mining companies.

Antalpha is the world's leading Bitcoin ecosystem service provider for institutional partners. As a strategic partner of Bitmain, Antalpha is trusted by institutions, startups, and qualified investors to drive innovation in blockchain technology and applications. It has become a leading company in the global blockchain financial services ecosystem.

The Antalpha BTC Mining Index selects the top ten publicly traded US Bitcoin mining companies and tracks their respective performance. The Antalpha BTC Mining Index will offer mainstream financial investors a reliable channel to gain crypto exposure. The index will be rebalanced every six months to reflect the market conditions.

Metalpha is one of the largest crypto derivatives traders in Asia and is dedicated to providing tailor made wealth management and hedging solutions to financial institutions including family offices, investment funds, crypto mining companies, etc. Metalpha previously launched a fund to invest in GBTC, which has seen large gains since launch, with its net asset value increased to 269.84%, outperforming Bitcoin by about 39% from $27,265 to $62,867.

"We are excited to launch this equity fund focusing on offering investors Bitcoin exposure through Bitcoin mining companies. The Antalpha BTC Mining Index comes because of high demand from global investors betting on the long-term growth opportunities of the Bitcoin mining industry. " Adrian Wang, President and Director of Metalpha Technology Holding Ltd.

The Company is a holder of Type 1 (securities and virtual assets dealing services), uplifted Type 4 (advising on securities and tokens) & Type 9 (asset management) licenses by the SFC.

About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.

View original content:https://www.prnewswire.com/news-releases/metalpha-adopts-new-bitcoin-mining-index-by-antalpha-and-ftse-russell-302235578.html

SOURCE Metalpha Technology Holding Limited

FAQ

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What is the Antalpha BTC Mining Index adopted by Metalpha (MATH)?

The Antalpha BTC Mining Index, launched by Antalpha and FTSE Russell, selects the top ten publicly traded US Bitcoin mining companies and tracks their performance. Metalpha (MATH) has adopted this index as a benchmark for its Bitcoin mining stocks fund.

How has Metalpha's (MATH) previous GBTC fund performed?

Metalpha's (MATH) previously launched GBTC fund has seen large gains since launch, with its net asset value increasing to 269.84%, outperforming Bitcoin by about 39% from $27,265 to $62,867.

What licenses does Metalpha (MATH) hold from the SFC?

Metalpha (MATH) holds Type 1 (securities and virtual assets dealing services), uplifted Type 4 (advising on securities and tokens), and Type 9 (asset management) licenses from the Securities and Futures Commission (SFC).

When did Metalpha Technology Holding (MATH) go public?

Metalpha Technology Holding (MATH) went public on October 20, 2017.