Hilbert Capital, the asset management division of Hilbert Group AB (Nasdaq: HILB B) and Xapo Bank have successfully launched the BTC-denominated credit fund. The fund has been established with 3000 Bitcoins in initial investments (currently valued at USD 175 million, SEK 1.75 billion).

Hilbert Capital is the investment manager for the Xapo Byzantine BTC Credit Fund which is planned to be made available to clients globally of Xapo Bank, subject to regulatory approval.

The fund enables investors with Bitcoin balance sheets to earn a high-quality and institutional grade yield on their holdings.

Niclas Sandström, CEO of Hilbert Group comments: “Xapo and Hilbert have worked closely for approaching 2 years and in the last year have initiated a series of investments, culminating in the establishment of this offering. Given its quality and the scale of demand for a yield on Bitcoin, we expect Hilbert’s previously-communicated $200m target for 2024 will be materially exceeded.”

Joey Garcia, Director of Xapo Bank and the Xapo Byzantine BTC Credit Fund comments: “We are very excited to see the relationship with Hilbert develop, and to already have this cornerstone commitment before even taking the fund to market. It clearly shows the market appetite for the product. Secure BTC ‘treasury management’ options are not really available in the space, and we’re excited to develop this and to eventually bring it to the clients of Xapo Bank.”

For additional information, please contact:
Niclas Sandström
CEO Hilbert Group AB
+46 (0)8 502 353 00
ir@hilbert.group