Southeast Asia’s first bitcoin fund is launched to meet local institutional demand
The Malaysia-based BCMG Genesis Bitcoin Fund-I (BGBF-I) was officially launched and claims to be the first insured institutional crypto product available in Southeast Asia.
An announcement said the fund was launched in response to growing demand for institutional crypto products in Southeast Asia. The fund uses a blockchain-based artificial intelligence (AI) platform provided by Calfin Global Crypto Exchang, which is said to provide more security for customer holdings.
BGBF-I is regulated in Labuan, Malaysia, where IBH Investment Bank is the primary advisor to the Fund. Hong Kong-based professional financial services company Alpha Calibration will provide regulatory compliance services and audited by HLB Hodgson.
The investment vehicle also offers insurance protection and underwriting for Public Offering Security Insurance. Fund manager Subbu Vempati stated:
“BGBF-I is a secure, insured and regulated platform on which investors can enter the digital assets industry. Investors can benefit from our know-how regarding the financial, technical and security aspects of Bitcoin investments and enter this class without problems or risks if they deal directly with the digital asset. “
According to its official website, the BGBF-I fund is forecasting a minimum return of 12% per year, while BTC itself has gained 266.5% in the past 12 months.
All accredited Asian investors must go through the Mandatory Anti Money Laundering (AML) and Know Your Customer (KYC) checks to access the Fund.
The Bitcoin Fund is one of many recently launched to meet the growing institutional appetite for BTC and other digital assets. In mid-February, the first physically settled North American Bitcoin ETF was approved in Canada. Grayscale’s Bitcoin Trust continues to grow as well. Assets under management were recently $ 39.8 billion.