Bitfinex, the major cryptocurrency exchange and partner firm of stablecoin Tether (USDT) is listing a multi-million-dollar cryptocurrency hedge fund.

The exchange announced on March 16 that it has listed Bahamas-based crypto hedge fund Fulgur Alpha, which is currently worth $280 million dollars.

According to the Bitfinex, the fund — which is only accessible to professional investors — aims to increase its assets under management this year.

Fulgur Alpha’s assets are held at licensed crypto-asset custodian Delchain Limited and the fund’s regulatory compliance is ensured by Bahamas-based administrator Deltec Fund Services and a division of financial services firm Deltec International Group.

Executive head of operations at Delchain Bruno Macchialli explained that the fund is set up in a traditional way that features risk diversification. According to Macchialli, the fund is a “blueprint for institutional investment in crypto.”

The rise of cryptocurrency hedge funds

As Cointelegraph reported in mid-February, the first month of this year was the best January ever reported by crypto hedge funds. While in January those funds experienced a 21.15% return, February 2020 saw the same funds shed 1.31% with presumably significant losses to follow in March, as the coronavirus crisis continues to wreak havoc in markets.

Hedge funds that are not specifically meant for investors interested in cryptocurrencies have seen a positive influence when crypto assets were included. In the first half of 2019, the hedge fund of famous investor Bill Miller saw over 40% growth thanks in part to including Bitcoin (BTC).