One year on from the launch of their successful blockchain/cryptocurrency fund of funds, the Luxembourg-domiciled and CSSF registered AIFM; Block Asset Management Sarl, have created the Blockchain Multi-strategy Certificate.
The open-ended tracker certificate is listed on the Vienna Stock Exchange (Wiener Borse) and will track the performance of their Blockchain & Crypto Fund. The underlying Fund invests in a carefully selected portfolio of blockchain/cryptocurrency investment funds using a unique five-prong investment approach: exposure to tracking/index, trading, mining, lending and ICO/STO funds. This diverse selection of managers has a combined AUM of over US$1bn.
Block Asset Management’s founders and directors, Manuel E. De Luque Muntaner and Kevin Ballard, said that they are “thrilled to be able to bring to market a listed blockchain and crypto focused certificate that will allow global asset managers and institutional investors to access this exciting and dynamic asset class.”
Mr. Ballard stated, “After a year of marketing our Blockchain & Crypto Fund of Funds, a year which included hosting Blockchain & Crypto conferences in Montevideo, Sao Paulo and Panama City, as well as presenting at events such as The Malta Blockchain Summit and The Isle of Man Blockchain Summit, we found that feedback on our diverse approach and rigorous multi-layer due diligence was overwhelmingly positive, however, Asset Managers required a listed note or certificate for ease of purchase. Also, in order to access Swiss Asset Managers, we required Swiss Fund representation. Via the tracker certificate, we have broken down these barriers and provided the solution.”
Mr. De Luque Muntaner, Block Asset Management’s Founder & CEO, added, “Given the performance of the crypto market in 2018, and after the bull run of 2017, investors remain hesitant despite current market conditions offering what many in the space see as a buying opportunity. Difficulties remain in selecting a single strategy or manager. This is compounded by a lack of funds that offer diversification, liquidity or any material performance history. By providing a more diverse investment opportunity, Block Asset Management provide an intelligent solution to the concerns investors have when they consider this exciting new space.”
Block Asset Management believe that we are in the early adoption stage of blockchain technology and cryptocurrencies, and that investor demand, particularly institutional which is yet to enter the market, will increase dramatically as much needed regulatory framework is introduced, further enhancing values.
Daniel Vegue Dominguez, Block Asset Management, Partner & CSO, highlights the importance of institutional players coming to the space, providing a most stable and robust industrial blockchain layer, stating, “Institutional inflows to the sector will be aided by Fidelity Group’s announcement that they will be providing crypto custody, clearing and trade execution services from 2019. We will also see the Intercontinental Exchange (ICE) in partnership with Microsoft, launch their own regulated global ecosystem for digital assets this year in the form of BAKKT. It is also widely expected that 2019 will see the first Bitcoin ETFs approved by the SEC. Only time will tell the impact these events will have on the market, but Block Asset Management hold a very positive medium to long-term view.”