The Bitcoin Adoption Fund will only have long exposure to Bitcoin and will be available to institutional investors.
Japan’s largest investment bank, Nomura’s digital assets subsidiary Laser Digital Asset Management, has launched a Bitcoin adoption fund for institutional investors.
The official announcement mentioned that Bitcoin
This digital adoption-based fund will be the first in a series of digital adoption investment solutions that the company plans to introduce.
Nomura is a Japanese financial giant with more than $500 billion in assets and provides brokerage services to major institutional investors. The Bitcoin fund launched by its digital assets arm will now offer investors direct exposure to Bitcoin.
The Laser Digital Bitcoin Adoption Fund provides only long exposure to Bitcoin. The financial giant has chosen Komainu as its regulated custody partner. The Bitcoin Fund is part of the Laser Digital Funds segregated holding company registered as a mutual fund in accordance with the Cayman Islands Regulatory Authority.
Sébastien Guglietta, head of Laser Digital Asset Management, said that Bitcoin is one of the catalysts for this long-term transformation, and that long-term exposure to Bitcoin offers investors a solution to capture this macro trend.
The Bitcoin Adoption Fund may be the first of its kind launched by Nomura and its digital assets arm, but the Japanese investment banking giant has been investing in the digital asset ecosystem for a long time. In September 2022, the company launched its digital asset venture capital arm to stay at the forefront of digital innovation. Earlier in August this year, Nomura’s crypto arm, Laser Digital, was also acquired the license from the Virtual Asset Regulatory Authority (VARA) of Dubai to work in the country.
The Bitcoin Adoption Fund, aimed at investors in Japan, comes amid a growing debate over Bitcoin-based investment products from regulated and traditional financial giants. The US Securities and Exchange Commission has approved two Bitcoin-based futures exchange-traded funds (ETFs), although the decision has been delayed on spot Bitcoin ETFs. Apart from the United States, Canada and Europe have also approved several Bitcoin-focused investment products in the past two years.
Source: The Blog
I am Ben Stock, a highly experienced news writer with several years of experience in the industry. I currently work for The News Dept as an author, where I specialize in market-related stories. My passion and expertise lies in providing readers with accurate and up-to-date information on the latest financial developments from around the world.