PwC Crypto Leader Henri Arslanian Launches $75M Digital Asset Fund In Dubai

Arslanian has moved to Dubai but retains the role of senior advisor at PwC.

PwC Crypto Head Moves to _crypto hub_ Dubai To Start Digital Asset Fund

Former Crypto Leader and Partner at PwC Henri Arslanian has launched the Nine Blocks Capital Management company in Dubai. Introducing his new market-neutral crypto hedge fund “with a focus on institutional allocators,” Arslanian said: “We believe that institutional investors want digital assets exposure but via fund managers who have an established digital assets track record, are regulated, have traditional finance experience and comply with the highest operational due diligence requirements.”

Speaking about the fund’s chief backer, Hong Kong-based Nine Masts, Arslanian said: “Nine Blocks is absorbing the existing digital assets trading team at Nine Masts, launching with about 10 members between the investment and non-investment teams.”

“We are launching with $75m from Nine Masts with additional day one investment by partners and its existing investors,” Arslanian disclosed.

In Dubai for Its “Crypto Openness”

According to a report by the Financial Times, the former “big four” player elected to set up shop in Dubai for its “crypto-openness.” The executive praised Dubai’s supportive regulatory environment, citing the swift provisional regulatory approval of the digital hedge fund by Dubai’s Virtual Assets Regulatory Authority (VARA). 


Nine Blocks further revealed that it had opened a physical office of portfolio managers in the Cayman Islands after registering with the Cayman Islands Monetary Authority (CIMA).

On the Flipside

  • Henri Arslanian considered basing the fund’s operations in Hong Kong, but was discouraged by the mandatory quarantine for international travelers.

Why You Should Care

With Dubai pushing to become a crypto-hub, a high number of companies are moving to the Gulf city to try and secure a license. 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Akriti Seth

Akriti is a Zurich-based reporter, focused on the political, regulatory, and legislative developments around crypto. She is a business journalist with over six years of experience working as a correspondent for organizations like Channel NewsAsia and Bloomberg TV India. In that time, Akriti has covered news in the finance, pharma, and state sectors.