Malta-based Exante Ltd has conceived a regulated investment vehicle with their Bitcoin Fund. Though announced in October last year, the fund has not received a lot of marketing. There has been increasing institutional interest as the fund is considered as a viable investment option.
Bitcoins can be acquired or stored by any entity but institutional investors are restricted in the types of assets available within their investment charter. Bitcoin Fund makes the bitcoin market available to instituional investor through a product regulated by the Malta Financial Services Authority. Exante Hedge Fund Marketplace platform provides exclusive distribution of the funds shares.
The fund is available at a minimum $100,000 initial subscription fee. There is also an upfront subscription fee of 0.5%. According to the funds terms and conditions, institutions and citizens from the U.S. cannot invest in the fund.
Bitcoin Fund manages current assets amounting to $3.2 million without any performance-based fee. There is an 0.5% per annum management fee on the Net Share Value. This facilitates the management of a secure digital wallet. External hacker risk, hardware failure and data loss are some of the threats addressed by the fund.
