Odaily News - New York hedge fund Fir Tree Partners is launching a new fund that focuses on distressed digital assets, aiming to profit from the intense volatility the industry has experienced in the past year or so.



According to an email, the fund, called "Fir Tree Digital Asset Opportunities Fund," will be launched on August 1st. Fir Tree stated, "Fir Tree performs best when we find pricing errors, mispricings, or complex opportunities. It is rare for all three to be present at the same time, but that is what we're currently seeing in digital assets."



Fir Tree noted in its email that it has "no view on the direction of the cryptocurrency market" and will attempt to "hedge any cryptocurrency risk exposure." (CoinDesk)