Mon, Jan 25, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

French boutique Napoleon launches futures-based bitcoin fund

Thursday, December 12, 2019
Opalesque Industry Update - Napoleon Bitcoin Fund, a Specialized Professional Fund under the French law, with daily liquidity, created on 8 th November 2019, is one of the first regulated vehicles in the world offering exposure to the performance of Bitcoin, the main digital asset.

With an expertise in quantitative management, blockchain and digital assets, Napoleon AM aims to support institutional and professional investors in their search for portfolio diversification.

Blockchain is a particularly promising technology in that it completes the process of digitizing the economic and social environment created by the computer.

While the emergence of the Internet at the end of the 1990s made it possible to digitize data, ten years later, social networks have digitized human interactions and disrupted the marketing paradigm.

Blockchain was born with Bitcoin in 2008. Today, this technology which digitizes value (Bitcoin being created as 'digital gold') has been adopted by many large companies.

Convinced of the major transformation challenge carried by the blockchain for the entire industry, Napoleon AM got quickly interested in the financial potential of what intrinsically emanates from public blockchains, digital assets.

In this respect, the first digital asset, Bitcoin, is particularly unique. With more than 10 years of existence, a market value of around USD 137 Billion and a daily trading volume of over USD 17 Billion, Bitcoin has unprecedented characteristics: very high volatility, an abnormally biased performance distribution in favor of positive returns and a very low correlation to traditional assets (shares, bonds, commodities). It is therefore the ideal asset to introduce into a diversified portfolio to optimize risk/return ratios.

It is in this quest for innovation that Napoleon AM is launching the Napoleon Bitcoin Fund, the first of a series of regulated funds for professional clients.

The fund aims to replicate the performance of Bitcoin via Futures listed on the Chicago Mercantile Exchange in cash settlement, thus avoiding the problem of storing and valuing Bitcoin

Stéphane Ifrah, President of Napoleon AM, states: "This fund is the culmination of our discussions with the regulator and our partners to offer a real alternative to professional investors. We are proud to contribute to the institutionalization and democratization of digital assets through a unique regulated fund under the French law."

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. SPACs: Jeremy Grantham: "SPACs should be illegal", Spacs may fuel European IPO boom, SPAC IPOs surge, The SPAC pop is now a thing: More unicorns getting on board, Paysafe readies $9bn IPO Via SPAC[more]

    Jeremy Grantham: "SPACs should be illegal" Special-purpose acquisition companies (SPACs) should be illegal, according to Jeremy Grantham, as they escape regulatory oversight and encourage the "most obscene type of investing." Grantham is the co-founder and chief investment strategi

  2. News Briefs: What if data scientists had licenses like lawyers?, Next generation behind family offices' ESG push[more]

    What if data scientists had licenses like lawyers? From Bloomberg: Data scientists, if they're poorly qualified or act irresponsibly, can do at least as much damage as lawyers and doctors. The algorithms they create can ruin lives, aggravate social divisions, even facilitate genocide.

  3. SPACs: SPAC costs are 'far higher' than previously realized, study finds, Jim Cramer recommends profit taking in speculative electric SPAC names.[more]

    SPAC costs are 'far higher' than previously realized, study finds From Institutional Investor: The costs of going public via a special-purpose acquisition company are both "opaque and far higher" than previously recognized, new research shows. SPAC shares tend to drop by one third or

  4. Institutional Investors: Pensions swamped in a sea of negative real rates, Bahrain's pension fund authority faces collapse[more]

    Pensions swamped in a sea of negative real rates From FA Mag: Defined-benefit pension plans were already barely treading water heading into 2020. In the years ahead, the risk is as great as ever that a large swath of them will drown. As the name implies, defined-benefit pensions promis

  5. New Launches: Lesser-known Tiger Seed launches long-only fund, Bill Gates-led fund raises another $1bn to invest in clean tech, Claret Capital strikes initial close for first fund since spinout from Harbert[more]

    Lesser-known Tiger Seed launches long-only fund From Institutional Investor: A hedge fund whose largest investor is Julian Robinson Jr.'s Tiger Management has launched a long-only fund as part of a larger reshuffling of its investment vehicles. Tiger Legatus Capital Management, a so-ca