IDX Advisors completes final phase of conversion to Gryphon Fund Group

CLEVELAND, May 16, 2022 /PRNewswire/ -- Gryphon Fund Group is pleased to announce, along with IDX Advisors, the successful conversion of transfer agent operations for IDX Risk-Managed Bitcoin Strategy Fund (BTIDX), a Phoenix based, $68 million fund as of May 9, 2022. The conversion completes the evolution from fund launch to full back-office offering with Gryphon.

Initially servicing private fund offerings from IDX, Gryphon acted as a strategic partner from conception through launch of the IDX Funds trust. The SEC's approval of concentrated Bitcoin futures funds made a transition into the registered fund space a priority for IDX. With the help of Gryphon's knowledge of the product and regulatory environment, IDX has been able to grow one of the largest Bitcoin strategy mutual funds currently available.

Andrew Swan, CEO of IDX said: "Gryphon proved they understood our product and the mutual fund industry, providing us with their expertise and connecting us to their extensive network of industry professionals. Their unique skillset and overall approach helped in the development of the IDX Funds trust. The conversion of the transfer agent to Gryphon is a continued testament of their quality of work."

"Gryphon is always excited to take on challenging and unique strategies, especially in working with an organization like IDX. This is a relationship where we've been privileged to grow together. Gryphon prides itself in the ability to think outside the box, take a customized approach, and to help our clients find the best way to service their investors," noted Gordy Jones, Member at Gryphon and Principal Financial Officer to the IDX Funds. "This product launch and subsequent TA conversion required us to be both adaptable and proactive. Our team did just that," added Chris MacLaren, Managing Member at Gryphon.

About IDX AdvisorsIDX Advisors is an SEC Registered Investment Adviser and a Quantitative Asset Manager that specializes in solving for the common difficulties associated with owning digital assets as a fiduciary. IDX maintains offices in Phoenix, AZ and Tampa, FL, and advises on assets of $650M.

About Gryphon Fund GroupGryphon is a Cleveland, OH based Fund Administration firm, servicing both registered and private investment companies. Servicing more than 75 funds with over $6 billion in assets under administration, Gryphon's client base includes Mutual Funds, Venture Capital Funds, Private Equity Funds, and Hedge Funds.

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SOURCE Gryphon Fund Group