This article was first published on COINTELEGRAPH.
Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds.
The new funds, the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund, are intended to provide simple and secure exposure to Bitcoin for professional investors, Fintonia announced on Thursday.
“The funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund. The funds are only available for accredited Investors," Fintonia founder and chairman Adrian Chng told Cointelegraph.
The Fintonia Bitcoin Physical Fund targets institutional investors seeking direct exposure to Bitcoin, allowing them to buy, store and sell large amounts of the cryptocurrency. “The fund acquires physical Bitcoin, meaning we will buy the actual Bitcoin rather than a derivative instrument on Bitcoin,” Chng reportedly said.
The Fintonia Secured Yield Fund, on the other hand, provides investors with access to private loans secured by Bitcoin. “Bitcoin is an excellent form of collateral for loans. It trades 24/7 and is highly liquid, with approximately $30 billion to $60 billion per day. If required, it can be quickly liquidated in comparison with, for example, commodities and real assets,” Chng noted.
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