Global Advisors Bitcoin Fund Set for Channel Islands Securities Exchange Listing
- A new prospectus reveals that the bitcoin custodians for the fund are Gemini Trust Company and itBit.
Global Advisors (Jersey) Limited, a bitcoin asset manager and the guarantor of XBT's Bitcoin Tracker One and Bitcoin Tracker EUR, has announced new custodians and extended trading powers for its flagship fund, Global Advisors Bitcoin Investment Fund PLC (GABI), detailed in a new prospectus.
Co-founder and CIO Daniel Masters says that the new developments pave the way for the GABI to list on the Channel Islands Securities Exchange as soon as this November.
Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!
The bitcoin custodians for the fund are Gemini Trust Company and itBit, both New York State-regulated bitcoin custodians. In addition to meeting the capitalization, reserve, compliance, consumer protection and cyber-security requirements of the New York State Department of Financial Services, the custodians will provide secured IT storage systems and cold storage vault systems for GABI’s bitcoin holdings.
New Manger Powers
In addition, the fund has added new powers allowing the manager to engage in cross-market arbitrage, futures-to-cash arbitrage, coin lending and leverage. The manager also maintains an account with Interactive Brokers LLC in order to be able to supplement the portfolio with interests in certain non-bitcoin commodity futures contracts such as oil, metals and currency pairs, with the aim of protecting and where possible enhancing returns by creating pair-trading and hedging opportunities. No more than 25% of the NAV (Net Asset Value) will be allocated to non-bitcoin based commodities.
The manager has also added the ability to trade in Crypto Delta One securities (CRYDOs). CRYDOs are securities traded on an electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term that offer indirect or synthetic exposure to the underlying price of bitcoin while not conveying explicit ownership of bitcoin. In this way they work similarly to CFDs in the equity world and can offer the benefits of cost saving and leverage - both as Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and yield enhancement tools.
Daniel Masters, co-founder and CIO, Global Advisors Bitcoin Investment Fund
Mr. Masters says that the new powers could potentially allow the manager to add 6-10% in alpha return generation alongside the strong beta growth of bitcoin.
Global Advisors (Jersey) Limited, a bitcoin asset manager and the guarantor of XBT's Bitcoin Tracker One and Bitcoin Tracker EUR, has announced new custodians and extended trading powers for its flagship fund, Global Advisors Bitcoin Investment Fund PLC (GABI), detailed in a new prospectus.
Co-founder and CIO Daniel Masters says that the new developments pave the way for the GABI to list on the Channel Islands Securities Exchange as soon as this November.
Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!
The bitcoin custodians for the fund are Gemini Trust Company and itBit, both New York State-regulated bitcoin custodians. In addition to meeting the capitalization, reserve, compliance, consumer protection and cyber-security requirements of the New York State Department of Financial Services, the custodians will provide secured IT storage systems and cold storage vault systems for GABI’s bitcoin holdings.
New Manger Powers
In addition, the fund has added new powers allowing the manager to engage in cross-market arbitrage, futures-to-cash arbitrage, coin lending and leverage. The manager also maintains an account with Interactive Brokers LLC in order to be able to supplement the portfolio with interests in certain non-bitcoin commodity futures contracts such as oil, metals and currency pairs, with the aim of protecting and where possible enhancing returns by creating pair-trading and hedging opportunities. No more than 25% of the NAV (Net Asset Value) will be allocated to non-bitcoin based commodities.
The manager has also added the ability to trade in Crypto Delta One securities (CRYDOs). CRYDOs are securities traded on an electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term that offer indirect or synthetic exposure to the underlying price of bitcoin while not conveying explicit ownership of bitcoin. In this way they work similarly to CFDs in the equity world and can offer the benefits of cost saving and leverage - both as Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and yield enhancement tools.
Daniel Masters, co-founder and CIO, Global Advisors Bitcoin Investment Fund
Mr. Masters says that the new powers could potentially allow the manager to add 6-10% in alpha return generation alongside the strong beta growth of bitcoin.