VanEck announced that it had received an initial tranche of the investment commitment from Fairfax County, which is allocating funds from two retirement systems into a variety of cryptocurrency-focused investment avenues. (Reporting via gazza_jenks)
As Fairfax continues to diversify its cryptocurrency investment strategy, its foray into the world of DeFi has officially begun with its investment in VanEck’s New Finance Income Fund. The fund offers short-term lending arrangements with cryptocurrency companies, platforms and businesses.to the VanEck website, the fund lends out fiat currency and stablecoins to borrowers in the cryptocurrency space.
Fairfax County has slowly increased its financing into the space, committing funds to seven cryptocurrency-focused allocations. One of these allocations looks to profit from volatility in the space, with a hedge fund intending to leverage yield farming, basis trading and exchange arbitrage opportunities.
The capital allotment from both funds is less than 1% of their total assets under management — as the county slowly gauges the investment potential in the alternative asset class.
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