Crypto exchange FTX mulls forming fund of funds as institutional interest expands: Blockworks

Cryptocurrency exchange FTX has considered the possibility of forming a fund of funds operation to external portfolio managers investing in the space, three sources familiar with the matter told Blockworks Monday. As institutional interest in the decentralized space increases, FTX and its U.S. affiliate, FTX.US, in recent weeks have explored with lawyers the possibility of creating a fund of funds, one source added. Fund of funds is a pooled investment fund investing in different types of funds. “While we have had internal discussions to explore what a crypto fund of funds would look like given demand from the market, it is not something we’re looking to pursue at this current time,” the spokesperson explained to Blockworks. If FTX decides to move forward with this effort, the exchange could start trading with more than $100M, another source highlighted, adding that there's a "lot of interest" from institutions. Earlier in March, FTX