New Bitcoin mutual fund simplifies crypto for Asian investors
September 19, 2019
New Bitcoin mutual fund simplifies crypto for Asian investors
September 19, 2019

Liberty Bitcoin Fund provides access to cryptocurrency to those accredited investors who are interested but slow in making a direct purchase of the coins. It is launched by Hong-Kong based venture capital group CMCC Global.

Digital assets have become an investment choice in portfolios. Hence, a mutual fund is a good option to own cryptocurrencies.

Demand

Bauman mentions that the idea of launching Liberty Bitcoin Fund is to provide digital asset management service in Asia.

“We have received more and more questions over the years from our existing investor base about whether we could help them buy Bitcoin “The new fund is really a demand-driven.”

Martin Baumann, managing partner of CMCC Global

The funds will utilize AXONE Custody, a safekeeping for digital assets with a wallet by BC Group. The insured wallet BC Group is listed in Hong Kong Stock Exchange.

Possibilities

Liberty Bitcoin Fund is “a single-asset passive tracker of Bitcoin and offers services including buying and safekeeping coins.”

With increasing interest and adoption of digital currencies across the globe, the demand for crypto as asset classes for conventional funds has also increased. However, the extreme volatility of cryptocurrencies, especially the number one crypto Bitcoin, is something that proves to be detrimental to investors’ portfolio returns. But with digital assets gaining recognition and becoming more mature like its inclusion in ETFs and mutual funds, the volatility should subside slowly, making it an appropriate investment option in portfolios with multiple assets .

Kostya Etus, CLS Investements’ portfolio manager

Since 2016, CMCC Global set up three funds. The funds are focused mainly on “proprietary technical infrastructure” where developers will be able to build applications on the Ethereum network.

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is a regular publication of information, analysis, and commentary focused primarily on blockchain technology and business, cryptocurrency, blockchain-based tokens, market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any security.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

You May Also like

AR Crypto Game Promotes On Social Distancing

AR Crypto Game Promotes On Social Distancing

Triffic, a free augmented reality game which rewards players with cryptocurrency, is doing their part to promote social distancing among their user base. On March 26, the startup announced on twitter that beta users...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain and decentralized apps.
Share This

Share This

Share this post with your friends!