Bitcoin Alpha Fund, managed by Syz Capital, resumes operations.
The BTC Alpha Fund, a Bitcoin-denominated fund of crypto hedge funds, is set to reopen for new and existing investors on October 1, 2025. Originally launched in March 2025, the fund closed to external capital after just one month due to overwhelming investor demand[1][2].
The reopening comes after Syz Capital expanded liquidity across its selected manager pool, unlocking capacity for an additional 2,000 BTC. As of the current date, around 1,800 BTC in commitments have been secured from diverse investors including family offices, multi-family offices, high-net-worth individuals, corporate treasuries, and crypto-native foundations[1][3].
Richard Byworth, managing partner at Syz Capital, commented on the sustained institutional appetite for bitcoin-denominated strategies. He stated that this move is a direct response to the growing interest in bitcoin-denominated investment strategies[1].
The BTC Alpha Fund invests in a diversified portfolio of crypto hedge funds focusing on strategies such as volatility trading, arbitrage, decentralized finance (DeFi) liquidity provision, and market-making inefficiencies, aiming for consistent, uncorrelated returns with high single-digit annual target returns and quarterly liquidity[1].
No management fees are charged, only performance-based compensation applies to the fund[1]. This reopening reflects a broader institutional trend toward increased exposure to cryptocurrency assets through sophisticated, professionally managed vehicles.
[1] Syz Capital Press Release, "Syz Capital Reopens BTC Alpha Fund to New and Existing Investors," September 25, 2025. [2] The Block, "Syz Capital's BTC Alpha Fund Closes to External Capital After One Month," April 10, 2025. [3] CoinDesk, "Syz Capital Secures 1,800 BTC in Commitments for BTC Alpha Fund," June 15, 2025.
Investors seeking alternatives to traditional finance may find interest in the reopening of the BTC Alpha Fund, which focuses on investing in a diversified portfolio of crypto hedge funds using strategies such as volatility trading, decentralized finance (DeFi) liquidity provision, and market-making inefficiencies. This reopening is a direct response to the growing institutional appetite for bitcoin-denominated investment strategies, with around 1,800 BTC in commitments secured from various investors so far.
