The Monetary Authority of Singapore (MAS) green-lighted two new institutional-grade Bitcoin Funds issued by leading asset manager Fintonia. The two Bitcoin funds namely The Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund would offer long-term exposure to institutional investors in the country. The two new Bitcoin funds aim to cut down the complexities involved in buying BTC from various exchanges and offer a secure way of investing.
The Fintonia Bitcoin Physical Fund would invest in physical Bitcoin and issue their company shares based on their Bitcoin holdings. Physical Bitcoin refers to the fact that the company would buy actual Bitcoins rather than investing in derivative products. Adrian Chng, founder, and chairman of Fintonia Group said,
“The fund acquires ‘physical’ bitcoin, meaning we will buy the actual bitcoin [rather than] a derivative instrument on bitcoin. As an MAS regulated fund manager with strict standards, we can connect with multiple exchanges and different market-makers, enabling us to find the best prices, as well as buy or sell at volume. The fund also enables efficient cash or crypto transfers, resolving the challenges around moving large amounts of cash in or out of the system.”
The firm also promised impeccable security services as the two new Bitcoin funds would secure their holdings with a licensed and insured custodian. Fintonia is one of the leading asset managers in Singapore and expects its two funds to grow in “triple-digit millions” in one year.
Fintonia’s Bitcoin Fund to Offer Loans
The second Bitcoin fund in the form of the Fintonia Secured Yield Fund promises to offer direct loans to Bitcoin holders. The main aim of the fund is to offer monetary benefits to BTC holders without them selling their holdings.
“Bitcoin is an excellent form of collateral for loans. It trades 24/7 and is highly liquid, with approximately $30bn to $60bn per day. If required, it can be quickly liquidated in comparison with, for example, commodities and real assets.”
Singapore has increasingly become a top choice for many crypto giants in the recent past. The regulatory environment in the country seems to suit the needs of crypto service provides because of which the likes of Binance, Coinbase, and FTX want to expand their business in the country.
- Trending
- Price Analysis
- Breaking: Singapore Greenlights Two New Institutional Grade Physical Bitcoin (BTC) Funds
- Polars.io: The Best of DeFi and Prediction Market in One
- US Federal Agencies Demand Stablecoin Oversight Powers; Here’s Why
- Breaking: Crypto Market Hit With Yet Another Crash, Here’s What Happened
- Shiba Inu Price Analysis: SHIB Rallies 33% As Adoption Surpasses 1 Million Holders
- Breaking: China May Set Up CBDC Exchange to Push Digital Yuan Use
- Hillary Clinton Claims China and Russia Could Manipulate Crypto, Here’s Why She is Wrong Again!
- Moonbeam Wins the Second Polkadot Parachain Auction Contributing 35 Million DOT
- Shiba Inu ($SHIB) Surges 18% As Meme Coin Hits 1 Million Holders
- Axie Infinity ($AXS) Surpasses SAND in Daily Sales, Sells Virtual Land NFT For Record 550 ETH
- Shiba Inu Price Analysis: SHIB Rallies 33% As Adoption Surpasses 1 Million Holders
- Tron Price Prediction: eToro Limiting Trade To US Users May Pull TRX Below $0.088
- Ripple Price Prediction: XRP Nurtures A 13% Drop To $0.900
- Mines of Dalarnia Token Price Analysis: The DAR Token Price Aims To Breach The $4.54 Resistance
- Bitcoin Price Prediction: BTC Double Bottom Pattern Aims for A 7% Rise To $60K
- Floki Inu Price Prediction: FLOKI Prepares For A 38% Upswing To $0.0002359
- Crypto.com Coin Price Prediction: CRO Is Up 346% In The Week To $0.85
- Basic Attention token Price Analysis: The Technical Chart Hints The BAT Token Posses A Threat of Dropping Back To The $0.765 Mark
- Binance Coin Price Analysis: The BNB Traders Could Expect A Significant Rally If The Coin Price Reclaims The $670 Resistance
- MyNeighborAlice Price Analysis: Is ALICE Token Ready To Sail North?
