CMCC Global, Major blockchain-focused venture capital firm in Asia, has now unveiled a new bitcoin institutional tracker fund.
On Sept. 17, the company made it clear that the Bitcoin index fund – dubbed Liberty Bitcoin Fund – usually deploys Anxone, a BC Group developed a custodial solution. BC Group is a digital asset firm that is already listed on the Hong Kong Stock Exchange.
Being one of the initial blockchain VC firms in Asia, CMCC Global (Hong Kong-based firm) initiated Liberty Bitcoin Fund so that users will not need to buy and safe-keep coins when gaining institutional-level access. The fund is also the first one in Asia.
Theft protection mechanism
Only accredited investors will be able to access the Liberty Bitcoin Fund according to the firm. In addition, the monthly net asset value statements in United States dollars that fund investors will receive would be useful for internal accounting as well as tax filings.
CMCC Global also explained that users would be protected from both physical and digital theft since the fund in the Cayman Islands is regulated like a mutual fund and as such, provides offline-stored comprehensive insurance.
BC Group unveiled its proprietary custody solution in April 2019. The group owns various blockchain companies, including OSL digital asset brokerage, and Anxone cryptocurrency trading platform.
On Sept. 11, Crystal — a certain blockchain analytics platform — said that Hong Kong is amongst the top countries that have the largest number of registered digital currency exchanges together with the U.S., Singapore and the United Kingdom.
With the launch of the Liberty Bitcoin Fund, CMCC Global has demonstrated its commitment to expand its institutional investment products by enabling professional investors to access several blockchain-based opportunities.
Despite its high volatility, Bitcoin — as one such opportunity for digital asset investors — has itself performed exceptionally well.