It’s been two weeks since Coindex Capital Management registered four AI-driven strategies with the SEC and minimums have already gone up.
The Atlanta-based hedge fund filed amendments yesterday to raise the minimum investment on all four of its funds from $100,000 to $1 million. It’s a sign that Coindex has piqued the interest of institutional investors.
“Institutional interest in the AI and its competitive advantages, the underlying strategies designed to offer a spectrum of risk/return profiles, and terms designed to be appealing to institutional investors has led us to raising our minimums,” founder and managing director Ryan DeMattia said in an email.
Whales, or investors with particularly deep pockets, have the ability to move the market because they trade in such large volumes. It’s a term that’s made the jump from Wall Street to crypto. But the transparency of blockchain has spurred dozens of apps and trackers to keep an eye on what especially large wallets do with their assets.
DeMattia and Shareef Abdou, Coindex’s director of strategy and finance, spoke with Crypto Investor earlier this month to explain how the “neuroevolutionary code” that powers their AI works.
Abdou said the AI has been able to run solo for the better part of the last year.
“Human intervention has not been needed in approximately 9 months of live trading to date,” he said.