Institutional investors are taking a bold step into the world of Ordinals as the sector’s first managed fund goes live, promising to actively trade and invest in Ordinals-related assets. Led by portfolio manager L. Asher Corson of Consolidated Trading, the Unbroken Chain fund has already secured major partnerships and is set to raise $5 million from limited partners.
The world’s first Ordinals trading fund will specialize in trading and investing in various types of Ordinal, including BRC-20 tokens, single sats and enrollments. This move marks a pivotal moment for Ordinals in their transition from niche companies to a recognized asset class. The fund’s general partners include the creator of the BRC-20 token standard, Domo; btc Inc. UTXO Management; and Ordinals creator Casey Rodarmor’s former communications director Isabel Foxen Duke.
Domo, the innovator behind the BRC-20 token standard, expressed excitement over the growing institutional interest in Ordinals. “It’s very exciting to see institutional interest in Ordinals as a standalone asset class rather than a private equity play.”
Unbroken Chain has already made waves in the Ordinals market with its initial investments. Notably, the fund was the buyer of the bitcoin Rock sold for 3 btc on September 21, 2023. This marked a major milestone as it was the first purchase of bitcoin Rock since March 7, attracting widespread attention from the Ordinals community.
Rocktoshi, founder of bitcoin Rocks, shared an inscribed image of the fund’s announcement and declared: “institutions are coming.”
UTXO Management investor and btc Inc. CEO David Bailey expressed his excitement, stating, “We are delighted to lead the charge for institutional investment directly into Ordinals assets.”
The Unbroken Chain fund’s plans to raise $5 million from limited partners demonstrates the confidence investors have in Ordinals’ potential. With initial contributions already reaching $1.5 million, it is clear that there is strong demand for exposure to this emerging asset class.
Disclaimer: UXTO Management is a subsidiary of btc Inc., the parent company of bitcoin Magazine.
