Crypto Firm BlockTower Shuts Down Its Market-Neutral Fund

Miami-based digital-asset investment firm BlockTower Capital wound down a “market-neutral” crypto fund that at one point oversaw more than $100 million with the goal of generating returns no matter which direction prices took.

BlockTower made the decision to shutter the fund and return capital to investors earlier this year, according to Chief Executive Officer Matthew Goetz. The move followed several crypto funds’ closures since FTX’s implosion including Galois Capital, which was known for betting against the Luna token before its collapse.

“This wasn’t related to FTX losses or any particular event,” Goetz said. “Instead, it was a proactive decision ...