[THE EDGE MARKETS] Two Bitcoin funds launched in Singapore — report

This article was first published on The Edge Markets.

KUALA LUMPUR (Nov 27): Fintonia Group, a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds.

Citing an announcement by Fintonia, cryptocurrency news portal Cointelegraph on Friday (Nov 26) said the new funds, the Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund, are intended to provide simple and secure exposure to Bitcoin for professional investors.

It quoted Fintonia founder and chairman Adrian Chng as saying the funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund.

"The funds are only available for accredited investors," he said.

The report said the Fintonia Bitcoin Physical Fund targets institutional investors seeking direct exposure to Bitcoin, allowing them to buy, store and sell large amounts of the cryptocurrency.

Read the full article on The Edge Markets.