Digital Asset Manager Arca Closes Digital Income Fund with UST Exposure, Funds Returned to Investors

Digital asset manager Arca has closed its Digital Income Fund, which launched in August 2021 and sought to invest in less volatile digital assets, with just over $20 million in assets under management at the time of closure, CoinDesk reported. Funds have been returned to investors. As of June 30, the fund's total asset value was $53 million. Arca previously disclosed that the digital income fund held UST, although people familiar with the matter said that was not the main reason that forced the fund to close. Arca also manages the flagship digital asset fund, venture-focused Arca Endeavor and NFT funds.