Swiss cryptocurrency bank Sygnum announced that its market-neutral Bitcoin fund, Starboard Sygnum BTC Alpha Fund, has completed its seed phase, raising over 750 BTC in the four months since its launch in October 2025.
The fund aims to generate profits independent of Bitcoin price increases, focusing on strategies such as arbitrage on centralized exchanges and leveraged arbitrage trading.
- Sygnum completes seeding for Starboard Sygnum BTC Alpha Fund after 4 months.
- It has raised over 750 BTC since its launch in October 2025.
- Annualized Q4 earnings reached 8.9% thanks to a market-neutral strategy.
Seed funding: Fundraising scale and timeline
Sygnum announced that the fund has attracted over 750 BTC in the four months since its launch in October 2025 and has now completed its seed phase.
The update, released on January 29th, highlights the rapid fundraising pace in the early stages of the market-neutral Bitcoin fund. The figure of over 750 BTC reflects the Capital of Bitcoin into the product, rather than its USD valuation, and also demonstrates investor interest in strategies that reduce dependence on price volatility.
The fund is described as market-neutral, meaning its profit target is tied to spreads and market structure rather than the upward/downward trend of Bitcoin. "Seed completion" typically implies that the initial fundraising phase has reached its internal goals, moving on to the operational and expansion phase.
Performance and Profitability Strategies
In the fourth quarter, the fund achieved an annualized return of 8.9% and aims to generate returns without needing Bitcoin to increase in price.
Sygnum stated that the fund pursues arbitrage on centralized exchanges and leveraged arbitrage trading. These strategies typically exploit price discrepancies between the spot and Derivative markets, or between different exchanges, to seek profits in conditions of multidirectional volatility.
The key message is a non-directional alpha approach, focusing on optimizing spreads and managing positions rather than betting on price trends. The 8.9% annualization result in Q4 is cited as a measure of the initial effectiveness of the market-neutral approach in the early operational phase.
