Australia’s Digitalx Launches Cryptocurrency Investment Fund
Originally published on: Bitcoin News
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April 12, 2018
Traditional Australian investors have gotten a new alternative for investing in the bitcoin and cryptocurrency markets. A publicly listed firm has launched a fund focusing on the field. Additionally, Digitalx has created a new educational video platform about cryptocurrency.
Digitalx Ltd (ASX: DCC), has launched a new crypto-assets investment fund that will focus primarily on leading cryptocurrencies while allowing diversification with regulated ICO tokens, crypto derivatives, fiat, and managed schemes. Ellerston Capital veteran Tim Davies has been appointed as portfolio manager.
To create the fund, DigitalX pitched in $750,000 from its bitcoin and ethereum holdings, and will hold a 73% stake as the investment advisor. It seems that investors were quite happy with the new direction Digitalx has taken, as in response to the news the company’s share price jumped as high as 27% during trading on Tuesday at ASX (Australian Securities Exchange).
“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 managing director Leigh Travers said.
In addition to the new fund, Digitalx also announced that it is entering the crypto education scene. The company has partnered with digital media provider Multiplier to create two upcoming websites, Multipliercrypto.com and Coin.org, to teach the Australian public about cryptocurrencies and the technology behind them. These are said to offer video mini tutorials on crypto-assets delivered by industry experts to help newcomers learn with ease.
“These sites will be a platform to educate new investors from around the world about the opportunities and risks of crypto-assets, including cryptocurrencies and ICOs, including being a resource for updated regulatory information as it continues to develop,” Travers said. “The value of cryptocurrency digital real estate is expected to grow significantly with recent news from the world’s largest technology companies Google, Twitter and Facebook to limit cryptocurrency advertising,” he added.
Are cryptocurrency funds a good way for equity investors to get into the bitcoin ecosystem? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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