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Laxman Pai, Opalesque Asia:

Global financial firm Cantor Fitzgerald Asset Management (CFAM) said it plans to launch a new fund that allows investors to profit from Bitcoin's growth while hedging downside risks with protection tied to the price of gold.

The Wall Street investment bank said in a media release that Cantor Fitzgerald Gold Protected Bitcoin Fund will be CFAM's first Bitcoin-focused investment vehicle. It will be Cantor Fitzgerald's first investment product focused on Bitcoin.

Structured with a five-year duration, the Fund aims to deliver uncapped upside participation in Bitcoin, while providing 1-to-1 downside protection based on the price of gold.

The Fund is expected to open for investors in the next few weeks and will run for five years, according to the firm, which serves over 5,000 institutional clients worldwide.

"At Cantor, we are focused on delivering innovative products that support clients seeking exposure to digital asset investments," said Brandon G. Lutnick, Chairman of Cantor Fitzgerald.

"We believe this is a truly groundbreaking investment vehicle-one that helps investors tap into Bitcoin's potential growth with downside protection based on the price of gold. This Fund reflects our entrepreneurial spirit and commitment to delivering bold, forward-thinking solutions that redefine what's possible in digital asset investing," Brandon added.

According to media reports, Cantor Fitzgerald is one of 21 primary dealers authorized ......................

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