Fintonia Group, a Singaporean fund manager, has launched two institutional-grade funds to track the performance of the largest cryptocurrency in the world.
Fintonia Bitcoin Physical Fund is one of the new products that the financial services company regulated by Monetary Authority of Singapore, (MAS) offers.
Fintonia’s new Bitcoin Offering
The report states that the two products are designed to be used by professional investors who want to gain long-only passive exposure to Bitcoin (BTC). Institutional investors seeking direct exposure to Bitcoin can use the Fintonia Bitcoin Physical Fund.
This would allow market players to buy, store, and then sell large amounts BTC. Adrian Chng, founder and chairman of Fintonia, stated that the fund “acquires actual Bitcoin.” This means the firm will buy the actual cryptocurrency instead of using derivative instruments.
The Fintonia Secured Yield Fund, on the other hand, targets investors who want to access private loans that are secured with Bitcoin. Bitcoin has been a popular asset, attracting both large and small investors. It has also proven to be a great collateral for loans. The exec cited some of its characteristics such as 24/7 trading, high liquidity, and other features.
It can be liquidated quickly if necessary, in comparison to, for instance, real assets and commodities.
It is also important to remember that both funds are dependent on a licensed third-party custodian who stores users’ crypto-assets in cold wallets. Fintonia’s goal is to protect clients’ crypto investments from theft and hacking.
Triple-Digit Multimillion Score
Fintonia is positive about the new launch and anticipates that both Bitcoin funds will reach “triple-digit million” in the first year. Fitonia may be able to achieve her goal given the current market situation of growing investor appetite for crypto and Bitcoin in general.
CoinShares reports that the sentiment surrounding digital asset funds for Bitcoin (BTC), Ether (ETH), has not changed despite a slew corrections.
For the week ending November 20, crypto investment products including exchange-traded fund (ETFs) saw an increase in weekly inflows of $154 million. The pullbacks in market liquidity are not a concern for institutional investors. They are instead exploring new ways to interact with Bitcoin safely, effectively and efficiently.
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