A first in Asia, the single-asset passive tracker fund provides direct exposure to Bitcoin for accredited investors
HONG KONG, Sept. 17, 2019 /PRNewswire/ -- CMCC Global, one of Asia's first venture capital companies focused solely on blockchain technology, announced today 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."
About the Liberty Bitcoin Fund
The Liberty Bitcoin Fund is a passive, single-asset tracker fund and offers weekly liquidity. The fund is formally structured as a regulated mutual fund in the Cayman Islands and is available only to accredited investors. The fund provides access to Bitcoin without the burden of buying and safekeeping coins. All Bitcoin held by the fund are kept with a Hong Kong-listed custodian and covered by insurance.
About CMCC Global
CMCC Global is one of Asia's first venture capital companies focused solely on blockchain investments. It launched its first digital asset focussed fund in 2016 when Bitcoin was trading at 600 USD/BTC and Ethereum was trading at 7 USD/ETH. The company subsequently launched two more liquid venture capital funds which are both still ongoing but closed for new investors.
CMCC Global is also in the process of launching the Titan Fund, a traditional venture capital fund that will invest primarily in Seed and Series A stage equity opportunities of blockchain companies. CMCC Global has offices in Hong Kong and Toronto.
For more information: www.cmcc.vc
About BC Group
BC Group (stock code: HK 863) is Asia's leading publicly traded blockchain, technology and digital asset company with a portfolio of market-leading businesses. In a world first for a listed, digital asset-focused business, BC Group is 'Big-Four'-audited, and fully compliant with industry leading anti-money laundering and know-your-customer standards.
BC Group is based in Hong Kong and employs more than 175 individuals across the Asia Pacific region. It serves customers and partners in more than 50 countries. Founded in 2003, BC Group was listed on the Hong Kong Stock Exchange in 2012.
For more information: bc.group
About ANXONE Custody
The ANXONE Custody service for digital assets delivers the transparency, security and protection needed by institutional investors and fund managers in Asia. It enables professional traders and institutions to add digital assets to their portfolios safely and securely.
ANXONE Custody utilizes state-of-the-art encryption, private key protection, and military grade technologies. All wallet infrastructure is housed in high-security, cold storage vaults certified to meet Department of Defense standards, monitored with 24/7 surveillance, audited operation and control protocols and surpass the most rigorous industry standards.
BC Group maintains audited policies and procedures, as well as recovery programs, allowing customers to invest with confidence and with the knowledge that assets are well protected.
For more information: www.anxone.io/custody
Liberty Bitcoin Fund