The French asset management company TOBAM, with $9 bln under management, has officially announced the creation of the first Bitcoin mutual fund. The goal is for institutional investors to gain access to the cryptocurrency.
The company has created the fund as an unregulated alternative investment in order to provide a vehicle for allowing more regulated investors at the institutional level to gain Bitcoin exposure without the regulatory concerns. According to the business development lead, Christophe Roehri:
"Direct investment in Bitcoin can be operationally challenging, from dealing with the choice of the platform, to maintaining the proper security measures in terms of custody and to managing the changes made to the protocol.” – Coin Telegraph