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Blockstream Capital Partners has acquired a division within Numeus Group's digital asset trading and investment business, bringing on board a ten-person derivatives trading team and select Bitcoin-focused trading strategies concentrated on yield generation.
Deepak Gulati, Co-Chief Investment Officer of Blockstream Capital Management
The transaction sees Deepak Gulati, appointed Co-Chief Investment Officer of Blockstream Capital Management alongside Rodrigo Rodriguez. Gulati previously served as global head of proprietary trading at JPMorgan before founding Argentiere Capital, a multibillion-dollar volatility-focused hedge fund. He co-founded Numeus Group in 2021 with a thesis that derivatives would drive Bitcoin and digital asset market maturity, developing institutional-grade trading, risk management and market-structure capabilities.
Komainu, an existing BCP strategic investment, has played an integral role in the transaction and will provide corporate support, exchange connectivity, collateral management and custodial services.
The acquisition expands BCP's Bitcoin trading and yield generation capabilities, reinforcing its position as a provider of institutional-grade, risk-managed Bitcoin yield solutions. By integrating specialised expertise in Bitcoin derivatives and volatility strategies with an execution and real-time risk analytics platform, BCP aims to capture alternative yield opportunities across both stable and highly volatile market environments.
The transaction aligns with BCP's broader strategy to develop an institutional platform for digital asset trading, yield generation and structured solutions. The firm will deliver yield-enhancing derivatives strategies for Bitcoin treasury, including corporate and DAO treasuries, asset management and corporate clients, offering an alternative source of yield on their Bitcoin holdings. It will also provide execution infrastructure with embedded market risk solutions designed to support institutional-grade trading of Bitcoin and operational oversight.
PeterPaul Pardi, Managing Partner of Blockstream Capital Partners, said:
"Core to the growth of our business is industry-leading talent, proprietary trading strategies and adding to our best-in-class risk management. Deepak brings a rare blend of institutional TradFi rigour and hands-on digital assets trading expertise. By acquiring Numeus's trading business, we're adding proven crypto-derivatives and volatility capabilities that institutions increasingly demand, while strengthening our platform offering."
Deepak Gulati, Co-Chief Investment Officer of Blockstream Capital Management, commented:
"The Blockstream Capital Partners team has the ambition, expertise and platform to set the standard for how institutions access and manage their Bitcoin exposure, and I'm thrilled to help accelerate that build."
Paul Frost-Smith, Chief Executive Officer at Komainu
Paul Frost-Smith, Chief Executive Officer at Komainu, said:
"We're committed to advancing both innovation and institutional adoption across the Bitcoin ecosystem. BCP is an important partner in that mission, and we're excited to deepen the relationship as we continue developing and launching new Bitcoin-centric products and services."
The transaction builds upon BCP's December 2025 acquisition of Corbiere Capital Management, a Jersey-based equities hedge fund manager led by Rodrigo Rodriguez. Numeus Group is looking forward to building future value through strategic collaboration with BCP.
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