Wednesday, November 22, 2017

Asset management company in France to become the first to create and offer Bitcoin secured mutual fund

While Wall Street focuses on the creation of a futures market to allow institutional investors to acquire a form of Bitcoin in their portfolios, one asset management company in France is working on taking ownership of the cryptocurrency a step further.  And on Nov. 22 TOBAM announced they have created the world's first Bitcoin secured mutual fund which will be offered to their customers as another investment vehicle.

The French asset management company TOBAM, with $9 bln under management, has officially announced the creation of the first Bitcoin mutual fund. The goal is for institutional investors to gain access to the cryptocurrency. 
The company has created the fund as an unregulated alternative investment in order to provide a vehicle for allowing more regulated investors at the institutional level to gain Bitcoin exposure without the regulatory concerns. According to the business development lead, Christophe Roehri: 
"Direct investment in Bitcoin can be operationally challenging, from dealing with the choice of the platform, to maintaining the proper security measures in terms of custody and to managing the changes made to the protocol.” – Coin Telegraph

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