Summary
The crypto hedge fund Nine Blocks Capital Management has become the first fund to be granted a license by Dubai’s Virtual Assets Regulatory Authority (VARA). In addition, the hedge fund has announced plans to move its worldwide headquarters to Dubai. Nine Blocks employs a market neutral trading technique, capitalizing on arbitrage opportunities and market inefficiencies in the cryptocurrency space.
Introduction
Nine Blocks Capital Management, a crypto hedge fund, has obtained a license from Dubai’s Virtual Assets Regulatory Authority (VARA), making it the first fund to do so. The hedge fund has also revealed that it will be relocating its global headquarters to Dubai. This move is attributed to the vibrant ecosystem for cryptocurrencies created by VARA in Dubai, which has attracted numerous counterparties and facilitated information exchange.
Main Points
Nine Blocks employs a market neutral trading strategy to exploit arbitrage opportunities and market inefficiencies in the cryptocurrency ecosystem. Being market neutral means that the fund does not take any directional risk, allowing it to generate alpha from crypto market inefficiencies. The fund focuses on arbitrage between perpetual swaps and the spot price of cryptocurrencies such as Bitcoin and Ethereum.
In a separate development, the UAE’s minister of artificial intelligence has called for faster international cooperation on AI governance, urging nations to reach an agreement more swiftly than they did with the Paris Agreement. The UAE actively supports cutting-edge technologies and aims to become a global hub for innovation and development.
Conclusion
Nine Blocks Capital Management, a crypto hedge fund, has obtained a license from Dubai’s VARA and announced plans to relocate its worldwide headquarters to Dubai. The fund employs a market neutral trading approach, focusing on arbitrage opportunities and market inefficiencies in the cryptocurrency space. The UAE’s commitment to fostering technological advancements and becoming an international hub further supports the fund’s move to Dubai.
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