A First in Asia, the Single-Asset Passive Tracker Fund Provides Direct Exposure to Bitcoin for Accredited Investors
CMCC Global, one of Asia’s first venture capital companies focused solely on blockchain technology, announced the launch of the Liberty Bitcoin Fund, an institutional grade, single-asset passive tracker of Bitcoin (BTC) for accredited investors.
The fund is the first of its type in Asia and provides investors with institutional-level access to Bitcoin without the burden of buying and safekeeping coins. All Bitcoin held by the fund are covered by insurance and are kept safe by a Hong Kong Stock Exchange-listed custodian.
The fund utilizes ANXONE Custody, a best-in-class proprietary digital asset safekeeping solution with insured wallets provided by BC Group (BC Technology Group Limited, stock code: 863 HK), Asia’s leading publicly traded technology and digital asset company.
Bitcoin has established itself over the last ten years as a non-correlated digital asset with an asymmetric risk profile. However, the complexities of procurement and safely storing Bitcoin have prevented institutional investors from effectively participating in the asset class. Access to Bitcoin remains difficult for many professional investors. Investors not only have to worry about obtaining Bitcoin in a credible way, but they also face the challenge of storing and securing Bitcoin in a way that minimizes the risk of theft or loss.
The Liberty Bitcoin Fund is available only to accredited investors and provides weekly liquidity. It is regulated as a mutual fund in the Cayman Islands, administered by a professional fund administrator and audited by a top-tier audit firm. Fund investors receive monthly NAV statements in USD, which can be used for tax filings and internal accounting.
To protect against physical and electronic theft, Liberty Bitcoin Fund assets are covered by comprehensive insurance and stored offline in cold wallets secured in certified military grade vaults.
“Bitcoin is proving itself to be an asset that appeals to institutional investors. At CMCC Global, we have seen growing demand from our clients to gain direct exposure to Bitcoin in a safe and secure manner,” said Martin Baumann, co-founder of CMCC Global. “We have successfully worked with BC Group and value the firm as one of the most professional technology and digital asset companies in Asia. Their newly launched custodial solution, ANXONE Custody, eventually convinced us that now is the time to bring this fund to life. We are excited to launch the Liberty Bitcoin Fund as a way to provide institutional-grade access to this nascent asset class.”
BC Group Executive Director Dave Chapman added: “We’re thrilled to provide ANXONE Custody to the Liberty Bitcoin Fund. As digital assets continue to gain momentum and additional investors enter the space, this type of safekeeping solution will become an integral part of the ecosystem. The first in Asia to launch an institutional-grade investment vehicle for Bitcoin, CMCC Global has had the foresight to anticipate this shift.”
The launch of the Liberty Bitcoin Fund demonstrates CMCC Global’s commitment to expand its institutional investment products, allowing professional investors to access a range of blockchain-based opportunities. Bitcoin is one such opportunity for digital asset investors. Bitcoin has established itself as a new asset that has performed extremely well, despite its high volatility. In 2019, Bitcoin has appreciated in value by over 150% and in the last five years it has appreciated over 2,000%.
“The Liberty Bitcoin Fund is the most efficient way for professional investors around the world to access Bitcoin,” said Liberty Bitcoin Fund Manager Thilo Roth. “The fund is structured in a way similar to a traditional commodity tracker fund, such as those available for tracking the price of gold, and allows professional investors to gain exposure to the underlying assets using a secure and regulated structure they are familiar with.”