Southeast Asia's First Bitcoin Fund Launches to Meet Local Institutional Demand
The fund BCMG Genesis Bitcoin Fund-I (BGBF-I) based in Malaysia has been officially launched, claiming to be the first ever insured institutional crypto product available in the Southeast Asian region.
An announcement reported that the fund is launched in response to a growing demand for institutional crypto products in the region. The fund leverages an Artificial Intelligence (AI) powered blockchain-based platform provided by Calfin Global Crypto Exchange, which purports to offer increased safety and security for customer holdings.
The fund is headquartered in Labuan, Malaysia, where IBH Investment Bank serves as the fund’s leading advisor. Hong Kong-based professional financial services provider Alpha Calibration, will provide regulatory compliance services, and be audited by HLB Hodgson.
The investment vehicle also offers insurance coverage and underwriting for Public Offering Security Insurance.
Fund Manager, Subbu Vempati explained:
BGBF-I is a secure, insured and regulated platform where investors can get exposure to the Digital Assets industry. Investors get to benefit from our expertise in the financial, technical, and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.
According to the website, the BGBF-I Fund projects a minimum return of 12% annually, while noting that Bitcoin has gained 266.5% over...