NASDAQ Fund Market Lists Apis Capital Management’s Tokenized Fund
Asset manager Apis Capital Management, which operates a tokenized fund, said that Nasdaq Fund Network listed its token.
US-based asset manager Apis Capital Management announced that Nasdaq Fund Network listed its Apis Token, with the ticker ZAPISX. Earlier this year, Apis became the first asset manager to tokenize its investment product. The company relied on the Stellar blockchain protocol to tokenize its fund. With the Apis Token, the team aims to ensure a higher degree of security and liquidity in the trading space.
Nasdaq Fund Network is one of the best-known platforms for hedge funds and mutual funds. By reaching Nasdaq, the Apis token can be tracked on several connected networks, such as the Bloomberg Terminal or Yahoo Finance. The token is also registered with the Cayman Stock Exchange.
Even though Apis Capital Management is headquartered in the US, the token is issued by Apis Token Fund, an entity based in the Cayman Islands. ZAPISX is backed by fractional economic interest in the ACM Market Neutral Volatility Strategy Fund, which is managed by Apis Capital Management. It provides investors with exposure to the issuer’s investment in the fund, which revolves around volatility trading, focusing on VIX (Volatility Index) futures, S&P 500 Index options, and volatility derived from exchange-traded notes (ETNs).
The token is aimed at non-US investors, who have the opportunity to bet on a fund that has a proven track record, as it has generated gross annualized returns of 70% for over two years.
To manage the fund, Apis relies on advanced algorithms and machine learning technology. The company claims that it’s model works, as it could successfully predict massive volatility moves, such as the jumps recorded in August 2015 and February 2018.
While the Apis Token is addressed exclusively at foreign investors, US accredited investors have the opportunity to get exposure via the ACM Market Neutral Volatility Strategy Fund LP.
On a side note, Nasdaq, the operator of the second largest stock exchange in the world, might offer crypto-related solutions when the industry matures, CEO Adena Friedman hinted earlier.