Crypto startup Neutrl has secured $5 million in funding with the aim of democratizing hedge fund-style crypto yield strategies through a single synthetic dollar token, NUSD. The token is designed to generate returns by arbitraging discounted altcoin deals on over-the-counter markets, primarily targeting the $10 billion market of locked tokens. Neutrl’s approach allows users to invest without needing to manage complex trades manually; instead, they can hold the NUSD token which encapsulates various trades. Co-founder Behran Naidoo highlighted that this strategy, which often utilizes delta-neutral hedging, aims to attract a broader range of investors, particularly as DeFi yields have recently diminished. The funding round was led by digital asset marketplace STIX and venture firm Accomplice, alongside other notable investors including Amber Group and SCB Limited. Neutrl plans to expand its assets to $2 billion over the next two years as it capitalizes on the upcoming altcoin unlocks.

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