CMCC Global, a venture capital company focused on blockchain technology, announced today the launch of their Liberty Bitcoin Fund, an institutional-grade, single-asset passive tracker of bitcoin (BTC).
The fund utilizes ANXONE Custody, a proprietary digital asset safekeeping solution with insured wallets provided by BC Group, a publicly-traded technology company in Hong Kong.
“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.”
– BC Group Executive Director Dave Chapman
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. Fund investors receive monthly NAV statements in USD, which can be used for tax filings and internal accounting.
“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. 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.”
– Martin Baumann, co-founder of CMCC Global
Discussion about this post