Astro Capital Crypto Fund Announces First Dividend Payment

Astro Capital Crypto Fund Announces First Dividend Payment

Astro Capital, one of the first crypto-focused mutual funds in existence, has just announced the delivery of its first dividend payment 56 days after its ICO end date. 

Having amassed just under $2.5 million during its ICO sale, the Astro Capital fund was immediately deployed into the market as a basket of both ICO-issued tokens and cryptocurrency holdings. 

The fund operates by deploying 50% of all net profits back to contributors in proportion to the size of their token holdings. Yesterday, the Astronaut team announced that its first dividend payment amounts to just over $0.40 per token, over40% of the Astro token’s list price at sale. 

Fund Growth “Beyond Expectations”

“In a few short weeks of ups and downs with ample volatility, Astronaut has been able to sufficiently grow beyond expectations in terms of fund performance, market feedback and collaboration with the community,” stated Matthew Dibb, the funds’ CEO in the group’s first quarterly statement. 

The fund’s value has increased by 170% in just under its first two months, climbing to a total value of $6 million at the time of writing. 

The statement also underlines that 90% of the fund is currently liquid due to a restricted number of ICO investments, a situation which is expected to change in early 2018 as it makes plan to invest into a series of upcoming token sales during which there will likely be lock down on a greater percentage of assets. 

“Our expectation is that through consistent innovation, hard work and collaboration with our token holders, 2018 will be even more promising,” Dibb states.

Current Astro holders can expect their dividend payments to arrive over the next day or two once the Astro smart contract payment distribution mechanism has completed its ‘snapshot’ of current Astro-holding wallet addresses.