Global venture firm CMCC launched a BTC tracker with a custody solution
NEWS
September 17  |  2 min read

CMCC Global Venture Firm Launches Liberty Bitcoin Fund for Accredited Investors in Asia

The COIN360 Editorial Team

CMCC Global, the blockchain-focused venture capital company with offices in Asia and North America, announced on Sept. 17, 2019 the launch of the Liberty Bitcoin Fund which is supposedly the first of its kind in Asia. It will utilize ANXONE custody solution provided by BC Group. The fund is an institutional-grade tracker of Bitcoin (BTC) designed for accredited investors.

Martin Baumann, co-founder of CMCC Global, highlighted the growing demand from clients and his firm’s intention to embrace a “nascent asset class”:

“Bitcoin is proving itself to be an asset that appeals to institutional investors. At CMCC Global, we have seen growing demand from our clients to gain direct exposure to Bitcoin in a safe and secure manner. We have successfully worked with BC Group and value the firm as one of the most professional technology and digital asset companies in Asia.”

Adding that:

“Their newly launched custodial solution, ANXONE Custody, eventually convinced us that now is the time to bring this fund to life. We are excited to launch the Liberty Bitcoin Fund as a way to provide institutional-grade access to this nascent asset class.”

The fund will provide investors with “institutional-level access to Bitcoin” without the hassle of BTC storage. Every purchased Bitcoin will be stored by a custodian that is regulated by the Hong Kong Stock Exchange. The custodian employs a digital safe-keeping solution insured by BC Group, a technology and digital asset company whose shares are publicly traded.