Crypto Hedge Fund Arca Nearly Doubles Sales for Flagship Fund Despite LUNA Exposure

In an investor letter sent out in May, Arca revealed exposure to Terra’s native token LUNA and its stablecoin terraUSD (UST). The algorithmic stablecoin lost its peg to the dollar in a dramatic collapse, taking LUNA with it. Arca said Digital Assets held LUNA at the time of the letter, which still predicted a recovery for the Terra tokens.