HomeCryptoBitcoinAustralia: DigitalX launches Bitcoin Fund

Australia: DigitalX launches Bitcoin Fund

DigitalX, an Australian company offering blockchain consultancy and development services as well as asset management, today announced the establishment of its new product, Bitcoin Fund, a fund to promote interest in crypto among local investors.

According to the report, the company’s main intention is to involve Australian investors in the growth of the funds managed within the Fund, thus taking advantage of the fees collected by the Fund and increasing its participation in bitcoin. 

In detail, the fund’s participants are required to pay a management fee of 1.65% per annum and no performance fee to be paid to the consultancy company.

This is how DigitalX describes its Bitcoin Fund:

“The Bitcoin Fund is available through a standard unlisted fund structure to allow sophisticated investors including family offices and high net worth individuals a low-cost and familiar vehicle to gain exposure to this growing asset class. The opening of this fund will additionally provide DigitalX investors with further exposure to upside in the price of bitcoin”.

As a personal commitment to the establishment of the bitcoin fund, the company reveals that it has been in the crypto world since 2013 and currently owns 431 bitcoins. Of these, 215 will be used as seeding directly in the fund

As a result, the approximate value of the company’s investment in the fund will be approximately 2.75 million Australian dollars, assuming the price per bitcoin of AUD 12.800.

DigitalX’s new product will be presented in Australia’s major cities such as Sydney, Melbourne and Perth on November 25th, 2019. A roadshow that will allow the company to promote its bitcoin fund by directly meeting potential investors.

Leigh Travers, Executive Director of DigitalX, commented:

“DigitalX has held its bitcoin position through the 2017 bull market and 2018 drawdown because of our fundamental long-term belief in the value of the asset. What has become more and more apparent to us as we speak to investors and market participants generally, is that there is a growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets”.

DigitalX is one more addition to all those companies that offer services aimed at involving traditional investors who do not yet have direct access to bitcoin or the crypto world in general.

Just yesterday, in fact, on the other side of the globe, the world leader in derivatives markets, CME Group, announced the introduction of an additional service on bitcoin: the options on bitcoin futures contracts, which will be active from January 13th, 2020.  

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.