Paris-based asset manager Tobam has announced the launch of Europe’s first bitcoin mutual fund called Tobam Bitcoin Fund. The fund falls under unregulated alternative investment fund indicating that only institutional investors and HNIs can invest in this fund.
Bitcoins are virtual currency that has gained prominence recently. Investors can transact this electronic currency at low cost. Recently, this cryptocurrency has surged from $1,000 to more than $8,300 this year.
In its website, Tobam says, “While Bitcoin is prone to significant risks, including a very high level of volatility, it also provides diversification benefits, a theme that is central to the foundation of Tobam. The company, a quantitative and systematic investment pioneer, has developed cyber-security systems and cutting-edge technological capabilities over the past 12 years, both of which will back up the structure and functioning of the fund. Tobam will leverage research capabilities as well as its in-house computer power to implement fully integrated risk control and straight-through-processing investment systems.”
“Tobam in-house crypto-currency research and development team, includes computer specialists, engineers, researchers and risk management experts,” says the company.
