Key Takeaways
- • Further Asset Management and 3iQ Corp. introduced USD Class II, a new share class of the Further x 3iQ Alpha Digital Fund, launched in December 2025, expanding the fund's product offering to three share classes.
- • USD Class II enables USD-denominated institutional investors to access both the fund's market-neutral alpha generation strategy and long Bitcoin exposure through a single USD subscription without requiring direct Bitcoin custody or conversion.
- • The new share class addresses institutional demand for combined alpha and Bitcoin conviction by delivering an absolute return product paired with long BTC positioning, capturing Bitcoin's scarcity and convexity characteristics through familiar USD settlement mechanics.
- • The fund now offers allocators portfolio flexibility by enabling split allocations between USD and BTC share classes, tailored to individual risk and return objectives.
- • Tommaso Mancuso, President & CIO of 3iQ, positioned the offering as addressing two core institutional investor priorities: disciplined alpha generation across liquid digital asset markets combined with long Bitcoin exposure.
Summary
Further Asset Management, a UAE-based digital asset investment manager, and 3iQ Corp., a global digital asset investment solutions provider, announced on June 1, 2026, the launch of USD Class II for the Further x 3iQ Alpha Digital Fund. The new share class represents an expansion of the multi-strategy hedge fund initially launched in December 2025, extending the fund's share class structure to three offerings.
USD Class II directly addresses operational friction points for institutional investors seeking Bitcoin exposure. The share class enables USD-denominated subscription and redemption without requiring investors to source, convert, or custody Bitcoin directly. This design delivers a hybrid product structure: an absolute return component driven by the fund's market-neutral, multi-strategy approach combined with a long Bitcoin position that captures the digital asset's scarcity and convexity characteristics.
The strategic rationale centers on institutional demand consolidation. Rather than managing separate allocations for alpha generation and Bitcoin conviction, investors can deploy capital through a single USD vehicle that inherently combines both exposures. The offering maintains the fund's institutional risk management framework while simplifying the investor experience and operational complexity typically associated with direct Bitcoin holdings.
The expanded share class architecture provides allocators meaningful portfolio construction flexibility. By enabling split allocations between the fund's USD and Bitcoin share classes, institutional investors can precisely calibrate their digital asset exposure profile according to specific risk and return objectives. This optionality positions the fund as a multi-faceted institutional digital asset vehicle rather than a single-strategy offering.
The announcement reflects market momentum in institutional digital asset adoption, with Further and 3iQ positioning USD Class II as a solution to the dual institutional priorities of alpha generation and long-term Bitcoin positioning through a streamlined, USD-denominated structure.
USD Class II directly addresses operational friction points for institutional investors seeking Bitcoin exposure. The share class enables USD-denominated subscription and redemption without requiring investors to source, convert, or custody Bitcoin directly. This design delivers a hybrid product structure: an absolute return component driven by the fund's market-neutral, multi-strategy approach combined with a long Bitcoin position that captures the digital asset's scarcity and convexity characteristics.
The strategic rationale centers on institutional demand consolidation. Rather than managing separate allocations for alpha generation and Bitcoin conviction, investors can deploy capital through a single USD vehicle that inherently combines both exposures. The offering maintains the fund's institutional risk management framework while simplifying the investor experience and operational complexity typically associated with direct Bitcoin holdings.
The expanded share class architecture provides allocators meaningful portfolio construction flexibility. By enabling split allocations between the fund's USD and Bitcoin share classes, institutional investors can precisely calibrate their digital asset exposure profile according to specific risk and return objectives. This optionality positions the fund as a multi-faceted institutional digital asset vehicle rather than a single-strategy offering.
The announcement reflects market momentum in institutional digital asset adoption, with Further and 3iQ positioning USD Class II as a solution to the dual institutional priorities of alpha generation and long-term Bitcoin positioning through a streamlined, USD-denominated structure.
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