Physical Bitcoin Fund Approved in Singapore

Physical Bitcoin Fund Approved in Singapore

Technology
November 27, 2021 by mvp00
12
Singaporean Fintonia Group has launched two bitcoin funds for professional investors. The Fintonia Bitcoin Physical Fund purchases actual bitcoin to provide investors with direct price exposure. The Fintonia Secured Yield Fund allows bitcoin holders to obtain cash by putting their BTC as collateral. Singapore-based fund manager Fintonia Group, regulated by the Monetary Authority of Singapore
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  • Singaporean Fintonia Group has launched two bitcoin funds for professional investors.
  • The Fintonia Bitcoin Physical Fund purchases actual bitcoin to provide investors with direct price exposure.
  • The Fintonia Secured Yield Fund allows bitcoin holders to obtain cash by putting their BTC as collateral.

Singapore-based fund manager Fintonia Group, regulated by the Monetary Authority of Singapore (MAS), has launched a “physical” bitcoin fund and a yield fund, reported Fund Selector Asia. The offerings are geared towards professional and institutional investors seeking direct, passive bitcoin exposure and an avenue for obtaining loans on their BTC holdings.

“The fund acquires ‘physical’ bitcoin, meaning we will buy the actual bitcoin [rather than] a derivative instrument on bitcoin,” said Adrian Chng, founder and chairman of Fintonia Group, per the report.



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