Swiss Company Creates Cryptocurrency Fund

Crypto AG Fund has announced the creation of a “Cryptocurrency Fund” that will invest in a variety of digital currencies such as Bitcoin, Ether and Ripple, among others. The fund plans to launch in the fourth quarter of 2017.

This would be Europe’s first ever-diversified cryptocurrency fund. The fund based on a cryptocurrency index invests in the largest virtual currencies by market capitalization and liquidity.

Jan Brzezek, CEO of Crypto AG Fund explained that this diversification will lead to lower levels of volatility, while taking advantage of high growth new cryptocurrencies. In addition, he made it clear that the fund will be highly diversified.

The fund’s objective is to raise approximately $ 113 million (€ 100 million) in assets under management during the first year with the ambitious goal of $ 3.4 billion over three years. The fund already has investors who have dedicated $ 11.3 million (€ 10 million) with an additional $ 11.3 million (€ 10 million) in the transition to the pool.

The fund, based in Zug, Switzerland, has already begun preliminary discussions with the Swiss Financial Market Supervisory Authority (FINMA), the body responsible for financial regulation. Switzerland has historically had a positive trajectory with cryptocurrencies and its regulation. The country already recognizes virtual currencies as an asset class and is currently home to a variety of bitcoin financial companies.

This development could bring a new level of investment transparency into the digital asset class market.

Source: CryptofundagEconotimes

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

You may also like...