According to Odaily Planet Daily, crypto hedge fund management companies JellyC and Trovio Asset Management have merged in an effort to attract allocations from institutional investors such as pension funds.

JellyC, based in Australia, will become the majority shareholder in the combined company, company executives said. JellyC co-founder Michael Prendiville said the merger would help open doors to large investors in the Asia-Pacific region, eventually including Australian superannuation funds.

Australia’s A$3.9 trillion ($2.6 trillion) superannuation industry has so far been reluctant to put money into digital asset-related investments. Prendiville expects that to change in the coming years as Australia steps up cryptocurrency regulation.

Prendiville said the combined business aims to increase total assets under management by 150 per cent from current levels to A$250 million by mid-2026. Trovio chief executive Jon Deane said Trovio would eventually sell its stake in the combined business but gave no timeline.