A hedge fund in the British Virgin Islands has increased its TRX holdings by $20 million USD, bringing its total balance to over 1 million TRX, according to the announcement on July 20.
The BVI-based hedge fund, which has a positive outlook on the TRON ecosystem, plans to increase its holdings of TRX further and to build a friendly and close-knit relationship with TRON. The firm has previously made investments and acquisitions in multiple blockchain projects and holds a range of crypto assets in its portfolio.
TRON (TRX) has reported an uptick in interest from institutional investors seeking exposure to DeFi by acquiring the native tokens of smart contract networks and the dApp ecosystem they support. The $20 million investment by the BVI hedge fund follows significant efforts by TRON to improve its compliance level and to enhance relationships with institutional investors.
TRON has declared its intention to attract more institutional players, broadening interest in cryptocurrency as an investment vehicle, while bringing the benefits of decentralized technologies to a global audience. Through making it easier for funds to acquire TRX, while maintaining their reporting and compliance obligations, TRON hopes to facilitate an in-flow of funds into the cryptoconomy, fueling the development of innovative products and services built on blockchain technology.
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