- Laser digital bets heavy on digital assets with a Bitcoin fund.
- The fund’s assets will be under the custody of three firms.
- Bitcoin continues to garner the attention of institutional investors.
Laser Digital Asset Management, a subsidiary of Japan’s largest investment bank, Nomura, has officially launched its Bitcoin Adoption Fund. It targets institutional investors with long-only exposure to the rapidly evolving digital assets space.
The fund is part of Laser Digital Funds SPC, a Segregated Portfolio Company registered as a mutual fund with the Cayman Islands Regulatory Authority.
Enabling Transformational Change with Digital Assets
In a press release dated September 19, Laser Digital noted that the fund is part of a series of digital adoption investment solutions it intends to bring to the market.
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“Technology is a key driver of global economic growth and is transforming a large part of the economy from analog to digital. Bitcoin is one of the enablers of this long-lasting transformational change, and long-term exposure to Bitcoin offers a solution to investors to capture this macro trend.” Sebastien Guglietta, Head of Laser Digital Asset Management, said.
Per the announcement, Nomura’s Komainu, Ledger, and Coinshares will jointly provide regulated custody service providers to secure the fund’s assets.
Laser Digital has been doubling up on digital transformation. The company launched with a Venture Capital (VC) firm that has invested across Web3 and DeFi, including the recent acquisition of Elysium Technology Group, a provider of post-trade solutions for over-the-counter FX markets and digital assets.
With the fund, Laser Digital joins a growing list of investment firms that enable institutional investors to get exposure to Bitcoin without directly holding crypto.
The Rise of Institutional Bitcoin Funds
While U.S.-domiciled companies are awaiting a “long due” approval of a spot Bitcoin exchange-traded fund (ETF), exchange-traded products are already picking up in other parts of the world.
London-headquartered Jacobi Asset Management recently listed Europe’s inaugural spot Bitcoin ETF on the Euronext Amsterdam stock exchange.
Stay updated. Bitcoin Funds were the most impacted in the latest crypto outflows:
Bitcoin Funds Worst Hit as Crypto Outflows Streak Hits $500M
Read this article to understand BlackRock’s Bitcoin Fund:
Understanding BlackRock’s Bitcoin Proposal: ETF, Trust, or Something Else?
