Stack Launches Bitcoin Index Fund in Asia

Stack, a Singapore-based digital asset platform, announced on Tuesday the launch of a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term index fund.

Per the press release shared with Finance Magnates, the institution-focused platform is aiming to capture $750 million in assets under management (AUM) within 2020 and to surpass $2 billion in 2021 with its single-asset fund.

Matthew Dibb, co-founder and chief operations officer at the platform, revealed that the new product had been launched in response to “a dramatic increase in the number of investors seeking to diversify their portfolios using bitcoin.”

“Bitcoin is one of the best performing assets in history—with 19x returns since 2014—and is uncorrelated with traditional markets, making it an attractive prospective investment for both individuals and institutions,” he added. “In Asia, however, there are virtually no risk-adjusted investment portals for the bitcoin market, leaving investors in Asia with no opportunity to access these incredible potential returns.”

Bringing Bitcoin to the mainstream

Listed under the ticker symbol BTCX100, the index fund will provide investors in Asia a flexible and cost-effective means of gaining exposure to Bitcoin.

Targeted at institutional clients, investors need a minimum amount of SGD100,000 (approx $73,500) for investment in the Bitcoin index fund. The announcement also outlined that the platform will charge a management fee of 2.25 percent.

Claiming to be Asia’s first digital asset index fund, the platform has partnered with BitGo, Silvergate Bank, and Coin Metrics custodian, banking, and index solutions, respectively.

“Seasoned investors expect a level of sophistication which is non-existent in the market. Stack bridges this gap—blending knowledge of what investors want and need with data-backed insights into the cryptocurrency space. Right now, especially in Asia, if you are an institution which wants to trade bitcoin—but have significant fiduciary duties—Stack really is your only option,” Michael Collett, co-founder and chief Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term officer at Stack, added.