Inaugural Bitcoin Ordinals Trading Fund Attracts Institutional Interest as It Goes Live

Institutional investors are taking a bold step into the world of Ordinals as the sector’s first managed fund goes live, promising to actively trade and invest in Ordinals-related assets. Led by portfolio manager L. Asher Corson from Consolidated Trading, the Unbroken Chain fund has already secured significant partnerships and is poised to raise $5 million from limited partners.

The world’s first Ordinals trading fund will specialize in trading and investing in various Ordinal types, encompassing BRC-20 tokens, unique sats, and inscriptions. This move marks a pivotal moment for Ordinals as they transition from niche ventures to a recognized asset class. General partners of the fund include the creator of the BRC-20 token standard, Domo; BTC Inc.’s UTXO Management; and Ordinals creator Casey Rodarmor’s former communications director, Isabel Foxen Duke.

Domo, the innovator behind the BRC-20 token standard, expressed enthusiasm for the growing institutional interest in Ordinals. “It’s very exciting to see institutional interest in Ordinals as an independent asset class rather than an exclusive venture capital play.”

Unbroken Chain has already made waves in the Ordinals market with its initial investments. Notably, the fund was the buyer of the Bitcoin Rock sold for 3 BTC on September 21, 2023. This marked a significant milestone as it was the first Bitcoin Rock purchase since March 7th, drawing widespread attention from the Ordinals community.

Rocktoshi, founder of Bitcoin Rocks, shared an inscribed image of the fund’s announcement, declaring, “the institutions are coming.”

UTXO Management investor and BTC Inc. CEO David Bailey expressed his excitement, stating, “We’re thrilled to be leading the charge of institutional investment directly into Ordinals assets.”

The Unbroken Chain fund’s plans to raise $5 million from limited partners demonstrate the confidence that investors have in the potential of Ordinals. With initial contributions already reaching $1.5 million, it is evident that there is strong demand for exposure to this emerging asset class.

Disclaimer: UXTO Management is a subsidiary of BTC Inc., the parent company of Bitcoin Magazine.

Credit: Source link