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.
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 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 and yield enhancement tools.
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.
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 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 and yield enhancement tools.
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.
Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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