Sypher Capital Partners, founded in 2018 by Steven Han, is a blockchain-focused investment firm based in Jersey City. The firm runs an open-ended fund that invests across both public and private blockchain assets—employing long/short strategies without leverage to navigate crypto markets. In December 2024, they launched the Sypher Bitcoin Yield Fund (SBY), an innovative product allowing investors to contribute Bitcoin in kind and earn additional yield via Layer-2 protocol allocations, all while maintaining low, ETF-like fees. Sypher blends quantitative insight with crypto-native strategy execution to deliver differentiated risk-adjusted returns across decentralized finance ecosystems.