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DigitalX Launches a Cryptocurrency Fund Which Will Include ICO Tokens

Blockchain technology continues to attract a lot of attention. Various firms are looking to get in on the action. In Perth, DigitalX Ltd is setting up a cryptocurrency fund. That is an interesting decision considering how this group mainly focuses on blockchain technology. Even so, this only further confirms people need to pay more attention to the primary use case of distributed ledgers.

It is evident DigitalX Ltd sees merit in cryptocurrency. The company, known for its blockchain efforts, is looking to set up a new cryptocurrency investment fund. They want to make it easier for investors to access currencies which fly under the radar. A remarkable business proposition, even though such a fund will also be a bit of a risk. Most of the currencies people aren’t paying attention to fall victim to pump-and-dump schemes.

DigitalX Taps Into the Cryptocurrency Market

For the time being, it seems DigitalX will mainly focus on initial coin offerings. Additionally, they want to target the leading cryptocurrency assets. Diversification is an important measure in the world of cryptocurrency. Although all coins derive value from Bitcoin, there’s a lot more to this industry compared to just BTC. Keeping tabs on different currencies is of the utmost importance

DigitalX LTD managing director Leigh Travers comments as follows:

“We believe cryptocurrencies are under-researched by mainstream asset managers and there is an opportunity to leverage our expertise in blockchain technology and crypto-asset investment to create value for our clients. DigitalX continues to aim to be a leading player in the crypto-asset space in Australia and has to date built extensive experience within its team managing crypto-assets and understanding the protocols behind different crypto-assets, including currencies and tokens.”

It is interesting to note this new fund will have a provision. More specifically, individual investments cannot exceed 20% of the fund assets except for Bitcoin or cash. Moreover, all supported currencies will need to have their “legality confirmed”. This seems to hint at how the fund will exclude tokens potentially violating securities laws. An interesting decision by the company. DigitalX is certainly heading in an interesting direction with this new fund.

Header image courtesy of Shutterstock

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Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund

After leaving his position as an executive at Steven Cohen’s Point72 hedge fund, Travis Kling decided to start his own crypto-focused fund. This was a big and bullish announcement back then, but it still wasn’t enough to save the crypto market, which crashed only a month later. The following nine months were almost completely ruled by the bears, which has brought a lot of damage to the crypto world. Still, according to new reports, Kling has never given up on this project, and it seems that he will finally be ready to launch the new hedge fund over the next month. The dates have not been set yet, and it is possible that the fund’s launch will be as soon as in about two weeks. Former Point72 Manager Plans the Launch of His Own Crypto Fund The fund has been expected for a long time now, and according to what is known, it will be based in Delaware. Some reports even managed to find out that the name of the fund will supposedly be “Ikigai”. While nobody known for sure when the fund’s launch is actually going to be, it is known that it will happen in October. At first, the fund will be backed by a certain amount of capital that Kling’s unnamed partners have invested. However, later down the line, after the project starts its development properly, Kling plans to search for additional investors. Additionally, he will also add $15 million on November 1st, according to the reports. Eventually, by the time the mid-2019 arrives, Kling hopes that the fund will grow and expand to around $100 million. He even expects Ikigai’s venture branch to rise to $33M in capital invested. As for the foreign investors interested in the fund, they will be capable of allocating capital through investment vehicle based on the Cayman Islands. A Multi-Trillion Asset Class? During one of his recent interviews, Kling stated that he truly believes in the project, as well as the concept, and those willing to back it. This, more than anything, indicates that the project is more than just an attempt to generate large profits. Kling stated that he expects this to become a multi-trillion asset class that will expand to touch everyday life. He stated in an interview: It’s still very early, but the development and growth of this technology will be exponential. The firm will have a 13-person team that is said to be located in Los Angeles, while the fund will seemingly follow the regulations implemented by the Delaware government. Many believe that Ikigai’s launch will come on October 1st and that most of the allocated capital will remain in cash, at least at first. This is due to the fact that the investors are still trying to find a secure way into the crypto world. The post Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund appeared first on NewsBTC.

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