Southeast Asia's first Bitcoin fund launches to meet local institutional demand

The BCMG Genesis Bitcoin Fund-I will be available to accredited Asian investors.

The Malaysia-based BCMG Genesis Bitcoin Fund-I, or BGBF-I, has officially launched, claiming to have become the first insured institutional crypto product available in the Southeast Asian region.

An announcement states the fund launched in response to a growing demand for institutional crypto products in Southeast Asia. The fund leverages an Artificial Intelligence (AI) powered blockchain-based platform provided by Calfin Global Crypto Exchang, which purports to offer increased security for customer holdings.

BGBF-I is regulated in Labuan, Malaysia, where IBH Investment Bank serves as the fund’s main advisor. Professional financial services provider, Hong Kong-based Alpha Calibration, will provide regulatory compliance services, and be audited by HLB Hodgson.

The investment vehicle also offers insurance coverage and underwriting for Public Offering Security Insurance. Fund Manager, Subbu Vempati explained:

“BGBF-I is a secure, insured and regulated platform where investors can get exposure to the Digital Assets industry. Investors get to benefit from our expertise in the financial, technical, and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.”

According to its official website, the BGBF-I Fund projects a minimum return of 12% per year, while noting that BTC itself has gained 266.5% over the past 12 months.

All accredited Asian investors must go through mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) screenings to access the fund.

The Bitcoin fund is one of many that have been recently launched to address growing institutional appetites BTC and other digital assets. In mid-February, the first physically settled North American Bitcoin ETF was approved in Canada. Grayscale’s Bitcoin Trust also continues to grow, with its assets under management recently tagging $39.8 billion.

Publication date: 
03/09/2021 - 04:05
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