CMCC Global Launches Institutional-Grade Liberty Bitcoin Fund Protected by BC Group's ANXONE Custody Solution
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.
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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."