The French company intends to create a Fund to invest in bitcoin

The French company asset management TOBAM in which management is $9 billion, has launched an unregulated alternative investment Fund TOBAM Bitcoin Fund. About it reports International Business Times.

As the newspaper notes, TOBAM Bitcoin Fund will manage assets of institutional and accredited investors wishing to invest in the cryptocurrency market. In particular, the Fund will provide capital management in the case of the forks, and reduce the risk of large losses and thefts. The Foundation also will provide information on passive investment strategies. The Fund does not fall under the European regulatory framework of Ucits, which are subject of mutual funds investment. Also he can’t be traded on the exchanges.

“We researched bitcoin from a technical, financial and regulatory point of view for years before launching this Fund, — said the President of TOBAM Yves Saint, Cupati. — Bitcoin is diversifiable asset, which proves our commitment to the widespread minimize the risks. We are again in the forefront of the development, and intend to continue our research to always be ahead.”

The company expects that within 2-3 years the size of the Fund will exceed $400 million TOBAM expects that investors will perceive bitcoin as a diversification tool.

The founder of the company Yves Choueifati acknowledges that crypto currency has a high volatility. During the year, exchange rate for bitcoin went from $1 000 to $8 300. At the same time, in September, the price of bitcoin has fallen by 27% from $4 950 $3 612. But in mid-October, the rate was set at $5 000. At the moment, the price of cryptocurrency is $8 128.

Representatives of the company stressed that investing in bitcoin is a complex procedure because you need to choose a platform to assess the level of security and effectively manage all possible risks.

The growth rate increased and the interest of investors to the market. At the moment, the world was more than 55 cryptocurrency hedge funds.

Recall that the rate of bitcoin is growing. At the moment, it exceeded $7 million, setting a new historical record.