articleStartImage

Singapore-based Helvetic Investments announced the launch of a digital currency fund called Cryptocurrency Balanced Large Cap Fund SP. The regulated diversified vehicle is being advertised as the first crypto fund in Asia to target institutional investors.

Helvetic’s fund will allow family offices, accredited investors, and institutions to access a basket containing the 15 most popular cryptocurrencies via a traditional investment channel. The plan is to extend to limited investment in the stocks of blockchain-oriented companies or coupon-yielding bonds of countries and enterprises embracing distributed ledger technology (DLT). 

Audit, tax, and advisory services major KPMG will offer professional support, with several leading tax advisory and custody services providers also lined up to assist. 

Helvetic CEO Peter Stilli said: “We see the investment opportunity, bringing traditional fund activities to the emerging asset class of cryptocurrency. With the announcement from CME Group and Chicago Board Options Exchange (CBOE), this shows the maturing of the cryptocurrency market.”

This month, CME Group is expected to launch a Bitcoin-based futures instrument. Bitcoin Reference Rate, as the price data is referred to, will represent the average price on crypto exchanges like Coinbase’s GDAX, Bitstamp, Kraken, and itBit. 

Cryptocurrency Balanced Large Cap Fund SP has outlined a clear framework for operations with crypto assets. The in-house solution related to safe storage and audit services is a collaborative effort with Le Freeport Singapore. The latter deals in private vault rooms, electronic monitoring, physical access control, and round-the-clock armed protection.

Ville Oehman, who is in charge of crypto funds at Helvetic, commented: “We are responsive to our client demands for an institutional grade well-managed cryptofund. Our team brings together experienced wealth managers with cryptocurrency experts to actively manage a diversified investment strategy. We are well positioned to capitalise on this opportunity for our clients.”

The total market cap of all cryptocurrencies has grown by leaps and bounds, going from $20 billion at the start of the year to almost $350 billion as of now. The trend indicates growing confidence among investors and institutions worldwide. 

Each of the 15 cryptocurrencies tracked has a market cap of at least $1 billion, Bitcoin topping the list with over $194 billion.