Fund manager and activist investor Eric Jackson reportedly plans to run a new digital asset treasury (DAT) company despite the recent crypto market lull.
Jackson intends to take on the role of founder, chairman and CEO of EMJX, which will invest in Bitcoin (BTC), Ethereum (ETH) and several altcoins, Reuters reports.
The company plans to launch a reverse merger with pet wellness company SRx Health Solutions (SRXH).
EMJX aims to differentiate itself from the first wave of DAT companies like Michael Saylor’s Strategy Inc (MSTR), which has a Bitcoin-only treasury, by managing a multi-asset portfolio and using active hedging.
Said Jackson,
“Our goal is to reinvest capital into cash over time rather than relying on dilution, and to build a transparent, institutional-grade platform with a long-term focus.”
In an interview earlier this month, Jackson said that “the next frontier is risk-managed digital treasuries.”
“This still allows us to hopefully capture the upside when Bitcoin is doing well, but helps protect us from these massive declines during these winter crypto markets.”
The deal is contingent on approval from shareholders of SRx Health Solutions, which makes health and wellness products for pets.
Bitcoin is trading at $86,593 at the time of writing, down more than 6% in the past week. Meanwhile, Ethereum is trading at $2,931 at the time of writing, down almost 12% over the past seven days.
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