Nomura Group's digital asset subsidiary, Laser Digital Asset Management, has launched a Bitcoin fund targeting institutional investors. The Bitcoin Adoption Fund was unveiled on Tuesday, marking the first such digital asset investment product from the Japanese financial services giant's subsidiary.
The introduction of this fund comes in response to the growing demand for digital assets among institutional investors. The fund offers long-only exposure to Bitcoin and is part of an upcoming range of digital asset investment products from Laser Digital. Sebastien Guglietta, head of Laser Digital Asset Management, highlighted the transformative role of technology in global economic growth, with Bitcoin being a significant driver of this change.
The Bitcoin Adoption Fund is a segregated portfolio part of Laser Digital Funds SPC, a registered mutual fund. Fiona King, head of Laser Digital Asset Management, asserted that the fund adheres to the highest levels of risk management and compliance.
Laser Digital will utilize Komainu, a joint venture between Nomura, Ledger, and CoinShares, to provide secure custody for client assets. Both Laser Digital and Komainu were granted operating licenses by Dubai's Virtual Asset Regulatory Authority (VARA) last month. This development paved the way for the duo to offer a variety of digital asset trading services and investment products.
The launch of the Bitcoin Adoption Fund underscores the increasing adoption of cryptocurrencies in Japan and is an effort to provide cost-effective and secure exposure to Bitcoin for institutional investors.
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