The French asset management company TOBAM, with $ 9 billion under management, officially announced the creation of the first Bitcoin mutual fund. The goal is that institutional investors have access to cryptocurrency.
The company created the fund as an unregulated alternative investment in order to allow more institutionally-regulated investors to benefit from a Bitcoin exposure. regulatory concerns. According to Christophe Roehri, Business Development Manager:
"Direct investment in Bitcoin can be difficult from an operational point of view, from the choice of the platform to the maintenance of appropriate security measures in custody and manage the changes to the protocol. "
Massive Institutional Movement
Over the past two months, the widespread adoption of Bitcoin at the institutional level continued. The Chicago Mercantile Exchange (CME) for the supply of Bitcoin futures, as well as other companies, has propelled cryptocurrency to new historical highs of over $ 8,400. ]