The post Arrington Capital Makes Bold Move: XRP Hedge Fund Application Filed with SEC appeared first on Coinpedia Fintech News
Reaper Financial CEO Patrick L. Riley disclosed an interesting update regarding Arrington Capital’s recent filing with the United States Securities and Exchange Commission (SEC). According to Riley’s tweet, Arrington Capital has submitted a filing to launch an XRP-based hedge fund. However, specific details about the filing were not provided, except for Riley’s mention of an optimistic expectation for a positive outcome.
The move by Arrington Capital to establish an XRP-focused hedge fund comes at a time when the crypto community is closely watching the SEC vs. Ripple lawsuit. The ongoing legal battle revolves around whether Ripple and its executives violated federal laws by offering XRP as an unregistered security.
Arrington recently filed with the SEC for an XRP-based hedge fund. Seems there is an expectation for all to go well… https://t.co/Rq72BouFqr pic.twitter.com/gHMYNychDJ
— PATRICK L. RILEY (@PLR_2024) July 2, 2023
The filing comes at a time when the Ripple v. SEC case is ongoing
As the case unfolds, Arrington Capital’s filing has sparked curiosity and speculation among the XRP community. Some Twitter users have even suggested that the firm might possess insider information about the lawsuit. Nevertheless, the details surrounding the hedge fund filing remain limited, leaving room for further updates and developments in the coming days.
Arrington Capital, established in 2017, is an investment firm focused on digital assets and Web3 technologies. Arrington XRP Capital, a subsidiary of Arrington Capital, functions as a multi-strategy hedge fund with a focus on early-stage startup investments and participation in public markets.
Hedge funds typically cater to investors who meet specific minimum income or asset requirements. These investors often include high-net-worth individuals, individual investors, and pension funds.
As per the SEC document, hedge funds are not subject to certain investor protection regulations. For instance, hedge fund managers are not obligated to file public reports or register with the SEC. However, the applicability of these regulations depends on the size of the assets managed by the hedge fund.
