On May 12, according to Crowdfundinsider, Abu Dhabi licensed private equity platform AltNovel partnered with Canadian digital asset management company 3iQ to launch the Middle East's first multi-strategy digital asset fund,"AltNovel Digital Access Portfolio." The fund is open to professional investors and uses a portfolio hedging strategy to target annualized returns of more than 20%, and the maximum retracement is controlled within 2.4%. It aims to provide allocation options with low correlation with traditional assets. The product will combine 3iQ's digital asset management experience with AltNovel's combination-building capabilities and operate under the regulatory framework of the Abu Dhabi Global Market (ADGM). Pascal St-Jean, CEO of 3iQ, pointed out that the demand for institutional-level risk management solutions in the Middle East market has grown significantly. Data shows that the United Arab Emirates has become the first sovereign country in the world to implement a comprehensive regulatory framework for cryptographic assets.