Fri, Sep 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

TOBAM launches first Bitcoin fund

Friday, November 24, 2017

Bailey McCann, Opalesque New York:

French asset manager TOBAM, has launched the first Bitcoin focused mutual fund in Europe. The TOBAM Bitcoin Fund will operate as an unregulated alternative investment fund domiciled in France.

TOBAM created the fund using an in-house crypto research team and will open the fund to institutions and qualified investors. "We have done research on the liquidity of Bitcoin and our conclusion is that as the first cryptocurrency, Bitcoin has reached a level of liquidity that makes it available for institutions to invest in," said Yves Choueifaty, President of TOBAM, in an interview with Opalesque.

According to Choueifaty, the fund will invest in Bitcoin and Bitcoin assets using a risk mitigation process designed to account for the volatility of the Bitcoin market as well as any potential forks as the currency continues to mature. TOBAM, which is primarily known for its beta strategies, believes that Bitcoin can be a diversifier in institutional portfolios and may eventually become a reserve currency.

"Bitcoin is very compelling as a diversifier," says Choueifaty. "If there is one undeniable quality of Bitcoin is that is a diversifying asset."

The firm has been building up its technology and cybersecurity infrastructure and believes it can work with interested investors who want exposure to Bitcoin but are concerned about security.

TOBAM's internal team is also reviewing other cryptocurrencies like Ethereum for inclusion ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. The incredible shrinking hedge fund, For hedge fund stars, being right in 2008 proved to be a curse[more]

    The incredible shrinking hedge fund From Bloomberg: You'd be forgiven for thinking the hedge fund industry might be starting to rebound. Industry assets are at a record $3.2 trillion this year, and a brand-new ?rm just brought in an unprecedented $8 billion. But the reality isn't so rosy.

  2. Investing: Fiat Chrysler attracts more investment from hedge fund manager[more]

    From Autonews: Chase Coleman's Tiger Global Management has invested more than $1 billion in Fiat Chrysler Automobiles after more than doubling its position in the automaker since the end of June. The U.S. fund becomes the fourth biggest investor in the Italian American company. Tiger Global inc

  3. SWF: Saudi Arabia's sovereign wealth fund raises $11bn loan with 15 banks[more]

    From Reuters: Saudi Arabia's sovereign wealth has raised an $11 billion loan from a total of 15 banks, the Maaal financial news website reported on Tuesday, citing unnamed sources. A source with direct knowledge of the matter told Reuters last month that the Public Investment Fund (PIF) will p

  4. Hedge fund billionaire spells out America's worst nightmare, Sir Michael Hintze: Response to global financial crisis elevated populism[more]

    Hedge fund billionaire spells out America's worst nightmare From SMH: Billionaire hedge fund manager Ray Dalio effectively spelled out what doomsday looks like for the US on live television. The founder of Bridgewater Associates predicted the US economy is about two years from a downtur

  5. Lehman's carcass has handed huge profits to distressed funds[more]

    From Bloomberg: It was a bold move: buy at Lehman Brothers's darkest hour. But a decade after Lehman's collapse, a handful of hedge funds that bought up the bank's debt for pennies on the dollar have made even more money than seemed possible. More than $124.6 billion has flowed to Lehman credi