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Fund manager and activist investor Eric Jackson is reportedly planning to head up a new Digital Asset Treasury (DAT) firm despite the crypto market’s recent lull.
Jackson intends to take on the role of founder, chairman and CEO of EMJX, which will invest in Bitcoin (BTC), Ethereum (ETH) and several altcoins, reports Reuters.
The firm plans to launch as a reverse merger with pet wellness company SRx Health Solutions (SRXH).
EMJX aims to set itself apart from the first wave of DAT firms like Michael Saylor’s Strategy Inc (MSTR), which has a Bitcoin-only treasury, by managing a multi-asset portfolio and employing active hedging.
Says Jackson,
“Our objective is to reinvest capital back into the treasury over time rather than rely on dilution, and to build a transparent, institutional-grade platform with a long-term orientation.”
In an interview earlier this month, Jackson says that “the next frontier is risk-managed digital treasuries.”
“It still allows us to hopefully capture the upside when Bitcoin is doing well but helps insulate us from these massive drawdowns during these winter crypto markets.”
The deal is contingent upon the approval by shareholders of SRx Health Solutions, which makes pet health and wellness products.
Bitcoin is trading at $86,593 at time of writing, down more than 6% in the past week. Meanwhile, Ethereum is trading at $2,931 at time of writing, down nearly 12% in the past seven days.
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