Key Takeaways
- • Blockstream Capital Partners (BCP) announced on January 9, 2026 a strategic agreement to acquire a division of Numeus Group's digital asset trading and investment business, including select Bitcoin-focused yield strategies and a ten-person derivatives trading team.
- • The team is led by Chief Investment Officer Deepak Gulati, a volatility and derivatives specialist formerly Global Head of Proprietary Trading at JPMorgan and founder of multibillion-dollar volatility hedge fund Argentiere Capital.
- • BCP says the deal expands its Bitcoin trading and yield capabilities, targeting yield-enhancing derivatives products for Bitcoin treasury, asset-management and corporate clients, including corporate and DAO treasuries.
- • Komainu, an existing BCP strategic investment, will provide corporate support, exchange connectivity, collateral management and custodial services for the transaction.
- • The deal follows BCP's December 2025 acquisition of Corbiere Capital Management, a Jersey-based equities hedge fund manager led by Rodrigo Rodriguez.
Summary
Blockstream Capital Partners (BCP), the Jersey-based investment group affiliated with Blockstream CEO Dr. Adam Back, announced on January 9, 2026 that it has entered into a strategic agreement to acquire a division within Numeus Group's digital asset trading and investment business, according to a Business Wire release. The transaction includes select Bitcoin-focused trading strategies with a focus on yield generation and a ten-person derivatives trading team led by Chief Investment Officer Deepak Gulati.
Gulati, a specialist in volatility and derivatives markets, was appointed Co-Chief Investment Officer of Blockstream Capital Management alongside Rodrigo Rodriguez. He 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 to develop institutional-grade trading, risk management and market-structure capabilities, based on a thesis that derivatives would drive Bitcoin and digital asset market maturity.
BCP states the acquisition significantly expands its Bitcoin trading and yield generation capabilities and reinforces its position as a provider of institutional-grade, risk-managed Bitcoin yield solutions. The firm said it will offer yield-enhancing derivatives strategies for Bitcoin treasury clients, including corporate and DAO treasuries, as well as asset-management and corporate clients, combined with an execution platform and embedded market risk solutions. Komainu, an existing BCP strategic investment, played an integral role in the transaction and will supply corporate support, exchange connectivity, collateral management and custodial services.
PeterPaul Pardi, Managing Partner of BCP, said the firm is adding proven crypto-derivatives and volatility capabilities that institutions increasingly demand. Paul Frost-Smith, CEO of Komainu, described BCP as an important partner in advancing institutional Bitcoin adoption. Numeus Group, which was founded in 2021 and has 33 staff across Switzerland, New York, London and Mauritius, said it looks forward to building future value through collaboration with BCP.
The transaction builds on BCP's December 2025 acquisition of Corbiere Capital Management, a Jersey-based equities hedge fund manager also led by Rodrigo Rodriguez. Financial terms of the Numeus transaction were not disclosed in the release.
Gulati, a specialist in volatility and derivatives markets, was appointed Co-Chief Investment Officer of Blockstream Capital Management alongside Rodrigo Rodriguez. He 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 to develop institutional-grade trading, risk management and market-structure capabilities, based on a thesis that derivatives would drive Bitcoin and digital asset market maturity.
BCP states the acquisition significantly expands its Bitcoin trading and yield generation capabilities and reinforces its position as a provider of institutional-grade, risk-managed Bitcoin yield solutions. The firm said it will offer yield-enhancing derivatives strategies for Bitcoin treasury clients, including corporate and DAO treasuries, as well as asset-management and corporate clients, combined with an execution platform and embedded market risk solutions. Komainu, an existing BCP strategic investment, played an integral role in the transaction and will supply corporate support, exchange connectivity, collateral management and custodial services.
PeterPaul Pardi, Managing Partner of BCP, said the firm is adding proven crypto-derivatives and volatility capabilities that institutions increasingly demand. Paul Frost-Smith, CEO of Komainu, described BCP as an important partner in advancing institutional Bitcoin adoption. Numeus Group, which was founded in 2021 and has 33 staff across Switzerland, New York, London and Mauritius, said it looks forward to building future value through collaboration with BCP.
The transaction builds on BCP's December 2025 acquisition of Corbiere Capital Management, a Jersey-based equities hedge fund manager also led by Rodrigo Rodriguez. Financial terms of the Numeus transaction were not disclosed in the release.
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