Giant Asian Blockchain VC firm launches new Bitcoin Tracker Fund


The blockchain-focused enterprise capital firm CMCC International of Main Asia has launched a brand new institutional tracker fund for Bitcoin (BTC).

Custody by listed firm in Hong Kong

That is referred to as the Liberty Bitcoin Fund and the Bitcoin index fund is used Anxone, a custody answer developed by BC Group, know-how and digital asset firm listed on the Hong Kong Inventory Alternate, in line with a press release printed on September 17.

As one of many first blockchain VC firms in Asia, CMCC International from Hong Kong initiated the Liberty Bitcoin Fund in an effort to offer institutional entry to Bitcoin with out the burden of shopping for and storing cash, the press launch reviews. The brand new fund is claimed to be the primary of its type in Asia.

Offline insurance coverage to guard in opposition to theft

As the corporate has famous, the Liberty Bitcoin Fund is just out there to accredited buyers and gives weekly liquidity, whereas fund buyers can obtain month-to-month statements of the web asset worth in US {dollars} that can be utilized for inside accounting and tax returns.

The fund is regulated as an funding fund within the Cayman Islands and gives complete insurance coverage that’s saved offline to guard in opposition to each bodily and digital theft, CMCC International explains.

BC Group, that possession a portfolio of assorted blockchain firms, together with cryptocurrency buying and selling platform Anxone and digital asset brokerage OSL, launched its personal storage answer in April 2019.

If reported by blockchain evaluation platform Crystal on September 11, Hong Kong is likely one of the prime international locations with the biggest variety of registered digital forex exchanges, along with the UK, the US and Singapore.

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